- Indian rupee less prone to emerging market currency sell off: PollIndian rupee stuck in narrow range against US dollar as large traders shy awayIndian rupee gains 20 paise Vs US dollar to end at two-week high of 62.37Indian rupee surrenders initial gains; trades at 62.35 against US dollar
US dollar/Indian rupee trading at 62.38/39, marginally higher than its previous close of 62.3650/3750.
Pair encountered selling in early session, but ran into support at 62.30/31.
Local shares giving up gains also helping pair.
Dealers, however, avoiding going long ahead of Vodafone inflows.
Vodafone Group Plc won the Indian cabinet's approval for its $1.6 billion deal to buy out minority partners in its unit in the country, Information and Broadcasting Minister Manish Tewari said on Thursday.
The euro fell to a session low against the dollar, while German bund futures rose to day's highs after a German Constitutional court referred the European Central Bank's bond-buying programme to the European Court.