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Rupee off lows; Power Grid inflows

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Reuters

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)

 

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

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