Rupee gains on debt related dollar inflows
Traders say a large foreign bank spotted selling the greenback likely for investments in the debt market
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<a href="http://www.shutterstock.com/pic-145704104/stock-photo-indian-currency-rupees-and-coins.html?src=p5N32CFr8-mqwY5wKad6IA-1-63" target="_blank"> Rupee image </a> via Shutterstock.com
The rupee is trading at 60.54/55 versus Tuesday's close of 60.6750/6850.
Traders say a large foreign bank spotted selling the greenback likely for investments in the debt market.
The benchmark 10-year bond yield down 4 basis points on day at 8.49%.
A substantial breach of 60.50 levels can take the pair to 60.20, say dealers.
Local shares to be watched for cues on fund flows. Nifty down 0.23%.
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First Published: Aug 20 2014 | 1:14 PM IST