INSUBCONTINENT EXCLUSIVE:
On Tuesday, the rupee had closed lower at 71.50 against the dollar.
The rupee on Wednesday rose for
a second straight day on Wednesday
The domestic currency appreciated by 15 paise to settle at 71.35 against the dollar.Gains in domestic stock markets and sustained foreign
fund inflows strengthened investor's sentiments on Wednesday, analysts said
After opening higher at 71.43 against the greenback, the rupee traded in the range of 71.30-71.48, before settling at 71.35 against dollar
On Tuesday, the rupee had closed lower at 71.50 against the dollar
billion, which helped rupee appreciation
FIIs bought shares of more than Rs 5,100 crore on a net basis in the past two sessions," Mr Sharma said.This month, FIIs poured funds of
$3.4 billion (around Rs 24,266 crore) in the equity segment till now compared to inflows of $1.7 billion (around Rs 12,130 crore) in the
previous month.According to Gaurang Somaiyaa, Forex - Bullion Analyst, Motilal Oswal Financial Services, the rupee was also supported by
gains in domestic stock markets.Domestic stock markets rose to record levels on Wednesday
The Sensex ended 199.31 points (0.49 per cent) higher at 41,020.61 and Nifty settled with a gain of 63.00 points (0.52 per cent) at
If the pace of buying is reduced or halted and if the rupee breaks 71.40, we might see rupee retracing back near 70.70-71.00 area by the
month of December," said Amit Pabari, Forex Advisors, CR Forex.Meanwhile, the dollar index, which gauges the greenback's strength against
the global oil benchmark, rose 0.37 per cent to $64.51 per barrel in futures trade.Get Breaking news, live coverage, and Latest News from
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