Rupee may edge up on Asian stock gains

Rupee may edge up on Asian stock gains
Comment E-mail Print Share
First Published: Thu, Aug 02 2007. 12 21 PM IST
Updated: Thu, Aug 02 2007. 12 21 PM IST
Mumbai:The rupee could edge up on Thursday (2 August) as a rebound in some Asian share indices sparks hopes that foreigners will remain buyers of local equities.
Foreign fund inflows have been a key driver for the rupee, which has risen more than 9% in 2007. The partially convertible rupee ended at 40.45/46 per dollar on Wednesday (1 August), down from Tuesday’s (31 July) close of 40.3725/3800.
India’s benchmark 30-share index fell 4% on Wednesday (1 August), its biggest fall in four months, tracking declines in other equity markets on heightened fears of a global credit crunch.
Data showed India’s trade deficit for June was $7.33 billion, higher than $3.64 billion a year ago, as imports grew due to strong economic activity and rising oil prices.
-----------------------------------------------------------
MARKET SNAPSHOT,10,18,38,49
Bombay Sensi tive Index BSESN
Indian rupee INR=IN
REUTERS
Comment E-mail Print Share
First Published: Thu, Aug 02 2007. 12 21 PM IST
More Topics: Money Matters | Currency |