Rupee extends gains for third session; FII inflows give support

Rupee extended gains for a third session, pair at 54.75/77 versus 54.8350/8450 close on Wednesday.

FP Archives|Dec 20, 2014, 14:56:15 IST

Rupee extended gains for a third session, pair at 54.75/77 versus 54.8350/8450 close on Wednesday.

Dealers said strong capital inflows will continue to support the rupee with inflows into stocks having topped $24 billion so far in 2012, with over $4 billion in December alone.

[caption id="attachment_570244" align="alignleft" width="380"] Reuters[/caption]

Month-end oil related dollar demand may offer some support to pair, according to dealers.

Pair has immediate support at 54.65, which offered good resistance on way up, followed by stronger support at 54.50.

Reuters

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