Rupee rises on corporate inflows, stronger Asian FX

The rupee rises to 60.42/43, compared with its close of 60.6450/65 on Monday, reversing earlier losses due to large dollar sales from corporates, including some exporters.

The rupee rises to 60.42/43, compared with its close of 60.6450/65 on Monday, reversing earlier losses due to large dollar sales from corporates, including some exporters.

Firmer Asian currencies also weigh on the dollar, although investors are largely cautious ahead of the Fed's policy meeting ending on Wednesday.

Traders expect USD/INR to remain under pressure for the rest of the session, although they note oil importers could step in to buy dollars.