Rupee near one-week high; RBI, government steps aid
Indian rupee touched 54.3250 on Tuesday; its highest in one-week. It is now currently trading at 56.36/37; still higher than its close of 56.44/45.
June 05, 2013 / 12:26 IST
The rupee is trading at 56.36/37, after touching 54.3250, its highest since May 30, and higher versus its close of 56.44/45 on Tuesday.
Traders say sentiment for the dollar weak after the government and RBI steps on Tuesday.Also read: Rupee appreciation to cap sharp gains in gold, silver:AngelIndia is likely to raise the cap on foreign investment in sovereign debt by USD 5 billion soon, two finance ministry officials said.The Reserve Bank of India also extended the restrictions on the import of gold on consignment basis by banks to all nominated agencies and trading houses.Some traders also cited dollar flows towards the Unilever stake raising deal, though it was not too large, they said.Unilever Plc plans to pay up to USD 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. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
