Reuters Market Eye - The rupee is trading at 59.65/66 against the dollar versus its Friday's close of 59.91/92 but off 59.60 hit in early trade, its strongest since July 30.
Traders say good bunched up dollar inflows due to the extended weekend and positive local shares are aiding the rupee but good support for the dollar is seen from importers at current levels, preventing a further rise in the Indian unit.
Trading in the rupee resumed on Wednesday after a two-day break due to a local holiday and annual closing of bank accounts.
Sentiment for the rupee is also positive after the Reserve Bank of India kept rates on hold at its policy review while further tightening bank's access to cheap overnight funds.
Gains in other Asian currencies also underpinning sentiment for the local unit.
(Reporting by Swati Bhat)
You’ve reached your limit of 5 free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories
Over 30 subscriber-only stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app