The rupee strengthened for a third straight session on Tuesday, its biggest winning streak in two months, as dollar inflows towards an offshore bond sale continued while marginal gains in the domestic share market also aided.
Traders said dollar inflows have continued, though in small quantities, helping prevent any falls in the local unit despite dollar demand from importers coming in at sub-62 rupee levels.
Forex traders said dollar inflows into the domestic equity markets also helped the rupee. FII's have bought a net $465 million over the last eight consecutive trading sessions.
The partially convertible rupee closed at 61.9350/9450 per dollar compared to 62.07/08 on Monday. The unit gained for a third day, in its best winning streak since December 24.
Traders said gains in other Asian currencies versus the dollar also underpinned sentiment.
Most emerging Asian currencies rose slightly on Tuesday with the South Korean won and the Malaysian ringgit up on exporter demand, while a weakening yuan and falling China stocks limited gains in regional units.
In the offshore non-deliverable forwards, the one-month contract was at 62.23 while the three-month was at 62.99.
Traders said dollar inflows have continued, though in small quantities, helping prevent any falls in the local unit despite dollar demand from importers coming in at sub-62 rupee levels.
Forex traders said dollar inflows into the domestic equity markets also helped the rupee. FII's have bought a net $465 million over the last eight consecutive trading sessions.
The partially convertible rupee closed at 61.9350/9450 per dollar compared to 62.07/08 on Monday. The unit gained for a third day, in its best winning streak since December 24.
Traders said gains in other Asian currencies versus the dollar also underpinned sentiment.
Most emerging Asian currencies rose slightly on Tuesday with the South Korean won and the Malaysian ringgit up on exporter demand, while a weakening yuan and falling China stocks limited gains in regional units.
In the offshore non-deliverable forwards, the one-month contract was at 62.23 while the three-month was at 62.99.