The Indian rupee continued to trade higher in afternoon session on Monday tracking gains in local shares and also boosted by a largely defensive dollar versus major currencies overseas.* At 2:15 p.m., the partially convertible rupee was at 46.07/08 per dollar, after opening at 46.02 and slightly stronger than its 46.15/16 close on Friday, when it had touched 45.97 --its strongest since June 22.
* Indian shares edged up 0.6 percent led by gains in financials, amid an Asian session lacking in direction after the U.S. July payrolls data signalled its economic recovery was losing traction and prompted investors to opt for safe-haven assets.
* The index of the dollar against six majors was little changed and would be watched for cues. * The dollar was on the defensive against major currencies on Monday, as disappointing U.S. jobs data on Friday highlighted a weakening U.S. economic outlook.
* In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and MCX-SX were both at 46.1950, with the total traded volume on the two exchanges at about $1.7 billion.
Source http://economictimes.indiatimes.com/markets/forex/Rupee-continues-to-trade-strong-on-share-gains/articleshow/6281073.cms
No comments:
Post a Comment