Tags:
Journalism of Courage
The Indian rupee rose for a second straight day on Wednesday rising to more-than-one-week high on the back of a 1-per cent gain in the sharemarket early and tracking higher regional peers.
At 9:22 a.m.,the partially convertible rupee was at 46.12/13 per dollar,stronger than its close of 46.22/23 on Tuesday.
Most Asian currencies were trading stronger compared to the dollar.
Equities rose 1 per cent early on Wednesday,with Reliance Industries and Infosys Technologies topping the gainers,helped by a rise in global markets.
The US dollar slipped further from six-month highs against a basket of currencies on Wednesday,as investors picked up bargains in beaten down growth-linked currencies with risk appetite showing some signs of recovering.
State-run NTPC Ltd,India’s largest power producer,opens a follow-on share sale on Wednesday to raise at least $1.8 billion. The issue closes on Feb. 5.
