Reuters Market Eye - The rupee is trading at 60.53/54 versus Tuesday's close of 60.68/69.
Most traders cite a Japanese bank's dollar-selling as the main reason for the Indian unit's gain.
Other foreign banks also stepped in to sell the greenback following the Japanese bank, they add.
Dealers estimate flows have been more than $250 million so far.
The prime minister is due to return from his first major foreign trip to Japan later in the day.\
Gains in domestic shares to record highs also aid sentiment for the rupee.
Also Read
Traders expect good support for the USD/INR pair around 60.50 levels, followed by 60.38.
(Reporting by Swati Bhat)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app