Rupee nudges up on inflow hopes

The rupee edged slightly higher on Wednesday as better global risk sentiment bolstered hopes for capital inflows.

March 14, 2012 / 10:57 IST

The rupee edged slightly higher on Wednesday as better global risk sentiment bolstered hopes for capital inflows.

At 9:01 a.m. (0331 GMT), the rupee was at 49.90/91 to the dollar, stronger than Tuesday's close of 49.93/94.

Investor risk tolerance has improved following strong retail sales data from the United States, better economic outlook predicted by the US Federal Reserve and a sharp jump in Germany's ZEW economic think tank's monthly sentiment survey for March.

first published: Mar 14, 2012 09:12 am

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