The rupee was up against the US dollar because some foreign banks sold the greenback on behalf of foreign portfolio investors for likely inflows in the domestic equity and debt market. A large German bank was the major seller in early trade. National Stock Exchange's Nifty 50 was not updated today due to a technical glitch. However, Sensex was at a record high of 31559.44, up 0.6%.Dealers said that foreign banks also sold the greenback for the issue of dollar-denominated bonds worth around $500 mln by Hindustan Petroleum Corp."Equity and bond market flows are there, but we also heard of HPCL's dollar bonds inflows.
Source : Newswire
More will update soon!!
