Rupee gains on dollar flows from custodian banks

The rupee was trading strong due to dollar flows from custodian banks. 

 

At 10:50 am, the rupee was trading at Rs 62.34 compared with previous close of Rs 62.44 per dollar.

Bullish equities are also helping the rupee. 

 

But currency dealers say public sector banks may buy dollars for oil marketing companies (OMCs) later in the day, which will keep rupee under pressure.