18 February, 2013

Rupee gains on fund inflows; budget next trigger

Rupee gains on fund inflows; budget next trigger - The Economic Times

The rupee came off one-month lows to end higher on Monday, as late inflows related to foreign funds selling dollars outweighed demand from oil importers and weak Asian currencies which were weighed down by continued worries about the potential for competitive devaluations.

Flows are expected to determine near-term movements as investors wait for the 2013/14 budget to be unveiled on Feb. 28.

Courtesy : Economic Times

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