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Rupee trading higher as foreign banks sell dollars

Source : REUTERS
Last Updated: Wed, Mar 19, 2014 05:06 hrs
Rupee opens at 60.97 per dollar

The rupee is trading higher at 61.09/11 versus Tuesday's close of 61.19/20 as foreign banks sell dollars, likely for FII clients.

The BSE Sensex and Nifty rallied to record highs on Tuesday as strong buying by foreign investors continued to bolster blue chips in the lead-up to general elections, especially companies more geared towards the domestic economy such as HDFC Bank.

The dollar's index against six major currencies currently down 0.02 percent.

The dollar stood near its lowest level in more than four months against a basket of currencies on Wednesday, on some trepidation ahead of Janet Yellen's inaugural policy review as the Federal Reserve's chief.

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