Reuters Market Eye - The rupee rises to near three-week high as dealers cite corporate inflow related selling.
The rupee is at 63.35/36 after rising to 63.28, its highest since August 23, and 63.84/85 last close.
Several dealers cite selling by a large private petrochemical company.
Some dealers also cite selling related to possible front-running due to inflows towards Mylan Inc's $1.6 billion deal to acquire a unit of Strides Arcolab Ltd.
Dealer says convincing break of 63.30 means 63 will be next support.
(Reporting by Subhadip Sircar)
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