Rupee edges up on bunched up dollar inflows

Source : REUTERS
Last Updated: Thu, Oct 25, 2012 07:02 hrs
Indian currency of different denominations are seen in this picture illustration taken in Mumbai

The rupee edges up to 53.63/64 versus its previous close of 53.74/75 as bunched up dollar inflows help offset the demand seen from importers looking to meet month-end commitments.

"Good inflows being seen as yesterday was a holiday. Oil demand is there, but not much. Broadly there are more sellers than buyers today," a dealer with a state-run bank said.

The BSE Sensex is up 0.3 percent.

Traders say broad losses in the dollar versus major currencies hurting sentiment for the pair. The pair expected to hold in 53.45 to 53.80 range rest of the session.

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