* Trade minister says govt unlikely to meet $350 bln export target * Dealers cite inflows related to debt auction limits for foreigners By Subhadip Sircar MUMBAI, Feb 20 (Reuters) - The Indian rupee gained its most in two weeks on Wednesday, largely aided by inflows related to a debt auction, with volumes remaining low as most state-run banks were thinly staffed due to a strike. Dealers said the gain was due to foreign funds buying rupees to participate in a debt-limit sale for foreigners, which they need to subscribe to for buying local debt. India will auction about $12.3 billion of limits, including $10 billion of new government and corporate bond limits on Friday. Middle East Forex Wire External Story - Read full article here
Middle East Forex is not responsible for the content of external internet sites
Source: Reuters
|