Rupee recovers by 11 paise to 46.53/54

Mumbai, Dec 11 (PTI) Fresh capital inflows helped the
Indian rupee rise by 11 paise to 46.53/54 against the US
dollar Friday amid dollar selling by exporters and weak stock
market.

Forex dealers said the Indian currency regained its
overnight losses on fresh buying by Foreign Institutional
Investors (FIIs) in equities.
After pulling out on December 9, FIIs picked up shares on
December 10, going by the provisional data on SEBI.
They also attributed the recovery to dollar selling by
exporters mainly in later part of the day.
The rupee sentiment was also aided by the Reserve Bank's
reported statement that the capital inflows into India are in
line with requirement and there is no concern of the flows
building asset price bubbles.
In lacklustre trade, the local unit hit a high of 46.49
before concluding the day at 46.53/54.
After initial firmness, the Indian benchmark Sensex ended
lower by 70.28 points or 0.41 per cent today. Asian indices,
excepting Shanghai Composite, finished in the green.
Weakness in local equities after morning session was due
mainly to release of lower-than market expectation of factory
output data. The index of industrial production (IIP) rose by
a robust 10.03 per cent in October against a paltry 0.1 per
cent a year ago. MORE PTI VMP
DDC


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