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BW Businessworld

Rupee Falls; Power Grid Share Sale Opens

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The rupee is weaker at 62.375/385 compared with previous close of 62.315/325 on global dollar strength after strong US ISM data.

Dealer says sharp fall in the September-quarter current account deficit, though on expected lines, is positive for the rupee.

The pair continuing to have strong technical support at 61.9.

Power Grid Corp of India follow-on share sale opens for subscription, plans to raise Rs 7083 crore.

Foreign funds were buyers of $127.05 million in Indian equities on 2 December, provisional data showed.

Asian currencies are mostly trading weak.

The yen remained on the backfoot early in Asia on 3 December, having succumbed to further selling pressure on prospects of more stimulus from the Bank of Japan.


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economy india news 4 power grid dollar rupee bank of japan