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BW Businessworld

Rupee Edges Up; Market Is Likely To Be Flows Driven

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The rupee is trading at 61.98/99 per dollar versus Monday's (24 February) close of 62.07/08. Asian currencies trading with gains.

Dealers said the market is likely to be flows driven, 61.85-62.20 band for the session.

The pair is expected to trade in a 61.80 to 62.20 band during the session, dealers say.

The dollar steadied against its rivals in early Asian trade on Tuesday as traders sought more clarity on the pace of the US economic recovery after a series of soft data releases in the past few weeks.

Overseas investors have been net buyers of nearly $450 million over the last nine sessions.

Asian share markets regained some altitude on Tuesday (25 February) courtesy of a tailwind from Wall Street which sped to historic highs amid more mergers buzz, while gold extended its recent rally.

(Reuters)