Rupee resilient despite global market volatility

Reuters Market Eye - The rupee is the second biggest gainer against the dollar among Asia ex-Japan FX this month.

The Indian unit is up 0.8 percent this month, below the Indonesian rupiah's 1 percent gain.

Gains come despite volatility in global markets over doubts about the strength of major economies and the possibility of early Fed rate hikes.

Hopes for government reforms, easing inflation and improving economy support the rupee.

FII flows have been sturdy this month, though lower than in September.

Although FIIs sold a net $612 million in shares, they bought a net $1.66 billion in debt.

In September, FIIs bought a net $845 million in stocks and $2.6 billion in debt.

(Reporting by Gaurav Pai)