Rupee 'climbs' further..
From today's, TOI: The rupee surged further in limited activity and ended moderately higher at 40.7450/7550 against the US currency on Tuesday, mainly buoyed by fresh FII inflows into equity market amid dollar buying by banks.
State-owned banks were believed to be making purchases in the greenback on behalf of the Reserve Bank of India (RBI), which attempted to offset the impact of capital inflows through the IPO route. As per data available, the institutional portion of the real estate major DLF Ltd's mega public issue, which opened on Monday, was fully subscribed on the opening day of the IPO.
State-owned banks were believed to be making purchases in the greenback on behalf of the Reserve Bank of India (RBI), which attempted to offset the impact of capital inflows through the IPO route. As per data available, the institutional portion of the real estate major DLF Ltd's mega public issue, which opened on Monday, was fully subscribed on the opening day of the IPO.
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