Indian rupee gains against US dollar, Power Grid share sale opens

Written by Reuters | Updated: Dec 3 2013, 19:15pm hrs
Power gridUSD/INR stronger at 62.375/385 compared with previous close of 62.315/325 on global dollar strength after strong U.S. ISM data.
Indian rupee against US dollar stronger 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 Indian 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 70.83 billion rupees.

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

Asian currencies are mostly trading weak.

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