The Indian rupee edged higher on Wednesday tracking gains in regional sharemarkets and other Asian currencies, but the local stock market open will provide clues on direction of fund flows.
* At 9:25 a.m. the partially convertible rupee INR=IN was at 48.30/31 per dollar, stronger than its Tuesday's close of 48.42/43.
* The Morgan Stanley index of Asian stocks outside Japan, and Nifty stock futures traded in Singapore, were both up 0.4 percent, pointing to a higher opening in the domestic market.
* Foreigners have bought a net $1.4 billion worth of local stocks so far in July, taking net purchases in 2009 to almost $6.4 billion and helping the rupee pull back from a record low of 52.2 in early March. On the month, the rupee is down 1.1 percent.
* Most Asian currencies were stronger versus the dollar. For a snapshot see [EMRG/FRX]
Source:/in.reuters.com/article/domesticNews/idINBOM53974920090722
* At 9:25 a.m. the partially convertible rupee INR=IN was at 48.30/31 per dollar, stronger than its Tuesday's close of 48.42/43.* The Morgan Stanley index of Asian stocks outside Japan, and Nifty stock futures traded in Singapore, were both up 0.4 percent, pointing to a higher opening in the domestic market.
* Foreigners have bought a net $1.4 billion worth of local stocks so far in July, taking net purchases in 2009 to almost $6.4 billion and helping the rupee pull back from a record low of 52.2 in early March. On the month, the rupee is down 1.1 percent.
* Most Asian currencies were stronger versus the dollar. For a snapshot see [EMRG/FRX]
Source:/in.reuters.com/article/domesticNews/idINBOM53974920090722
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