| Date: |
07-02-2013 |
| Subject: |
Rupee opens higher in early trade |
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Mumbai: The Indian rupee on Thursday opened higher against the US dollar.
The partially convertible rupee opened at 53.125.
At 9.20am, the home currency was trading at 53.11, up 0.1%, against Wednesday’s closing of 53.165.
Local shares were down 0.3% in opening trades.
Traders said provisional figures showed foreign funds bought $213.79 million of equities on Wednesday, ahead of state-run power utility NTPC Ltd’s share sale. The floor price for NTPC’s share sale, scheduled for Thursday, has been set at Rs.145, or a 4.5% discount to its Wednesday’s close, said the company, valuing the sale at around $2.14 billion.
A Reuters poll showed that the rupee will strengthen slightly over the next 12 months, building on recent gains followed by a series of reforms by the government aimed at bringing its finances under control.
Source : livemint.com
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