Rupee off lows; Power Grid inflows

Image
Reuters
Last Updated : Dec 03 2013 | 1:26 PM IST

Reuters Market Eye - The rupee recovers from day's lows on dollar inflows which some dealers cite likely for Power Grid's $1.2 billion share sale.

Pair at 62.34/35 compared with 62.445 intraday high, previous close of 62.315/325.

"We expect around $200-$300 of foreign fund inflows from the share sale," said the chief dealer at a state-run bank.

Dealer says sharp fall in the September-quarter current account deficit, though on expected lines, is positive for the rupee.

The pair continuing to have strong technical support at 61.9.

(Reporting by Subhadip Sircar)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

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

More From This Section

First Published: Dec 03 2013 | 1:16 PM IST

Next Story