Foreign selling of dollar sparks Unilever inflows talk

Reuters Market Eye - Dollar sales from foreign banks in the morning are sparking talk of inflows related to Unilever's open offer for its India unit.

Unilever Plc plans to pay up to $5.4 billion to raise its stake in its Indian subsidiary Hindustan Unilever Ltd . The open offer opens June 21 and closes July 4. HSBC is the manager to the open offer.

The rupee is currently trading at 55.65/66 from its Thursday close of 55.57/58 as the USD/INR pair was supported by dollar buying by a private refiner.

(Reporting by Subhadip Sircar)