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HindustanTimes Sat,25 Oct 2014

Rupee at near 2-week high; dealers cite Unilever flows

Reuters  Mumbai, July 01, 2013
First Published: 13:14 IST(1/7/2013) | Last Updated: 13:19 IST(1/7/2013)

The rupee gained to a near two-week high on Monday, as worries temporarily eased after foreign investors turned buyers of domestic shares, while rumoured inflows from Unilever's open offer for its local unit also helped.

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Several dealers cited flows related to Unilever's $5.4 billion open offer for its Indian unit, which started on June 21.

The rupee was also helped after BSE index gained 0.9%, buoyed by news foreign investors had bought shares worth a net 11.24 billion rupees ($189.15 million) on Friday, snapping a 13-day selling streak.

At 0724 GMT, the rupee was at 58.99/00 to the dollar, after gaining to as much 58.965 in trade, its highest since June 19. It closed at 59.385/395 on Friday.

($1 = 59.4250 Indian rupees)


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