The partially convertible rupee closed at 60.08 to a dollar, compared with 60.19 on Monday
Govt could raise the amount foreign investors are allowed to buy by another $5 billion
The central bank will recoup forex when the rupee is around 58-60/USD: BofA-ML
The gains came after overseas investors bought shares worth $214.42 mn on Monday
However, the rupee is expected to continue to remain in a tight range ahead of the budget on July 10
The pair is also tracking losses in the dollar versus other Asian currencies
Mild demand for the US currency seen from banks, importers
The rupee is seen holding in a 59.80 to 60.20 range during the session
The rupee is seen holding in a 59.80 to 60.30 range during the session
Government bond yields are trading near their highs of pre-election scenario, the upside risks seems to be limited
Foreign currency assets, a key component of reserves rose by $1.37 bn to $287.96 bn
It is up 3 paise as most Asian currencies are trading stronger against the dollar
The rupee ended at 60.14/60.15 to the dollar after trading in a narrow 60.08-60.20 band compared with Wednesday's close of 60.1250/1350
Good dollar inflows prevented the unit from sliding sharply despite domestic stocks falling by nearly 1%
Fresh demand for the dollar from banks and importers affected the rupee
Increased demand for the US currency from importers put pressure on the rupee
Fresh dollar selling by exporters and a weak dollar overseas also aided the rupee rise