Indian rupee nudges higher against US dollar, Power Grid inflows watched

Written by Reuters | Updated: Dec 4 2013, 21:15pm hrs
RupeeIndian Rupee against US dollar higher at 62.46/48 versus previous close of 62.36/37, in line with weakness in shares.
Indian rupee against US dollar higher at 62.46/48 versus previous close of 62.36/37, in line with weakness in shares.

Dealers say trading happening on low volumes as year-end approaches.

Inflows from Power Grid share sale, which opened on Tuesday and closes Friday, will be watched. Dealers estimating between $200-$300 mln inflows on account of share sale.

Foreign funds continued to be buyers of $82.91 million in Indian equities on Tuesday, provisional data showed.

Asian currencies are mostly trading flat-to-marginally weak.

The yen was squeezed higher across the board early in Asia on Wednesday, enjoying a bit of a reprieve as investors locked in profits ahead of major risk events including U.S. jobs data due later in the week.