Rupee opens firm tracking other Asian currencies
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Mumbai, Nov. 15 -- The Indian rupee on Friday opened stronger against the US dollar tracking Asian peers which gained as the outlook for a trade deal between the US and China improved.
At 9.10 am, the home currency was trading at 71.82 a dollar, up 0.23% from Thursday's close of 71.97. The Indian unit opened 71.81 a dollar.
Traders will watch Supreme Court ruling on Essar Steel. ArcelorMittal had in March won the bid to acquire Essar Steel during the insolvency process. The sale is expected to involve about $6 billion of inflows to the forex market.
SC will rule on the legality of a decision by National Company Law Appellate Tribunal of 5 July, ordering all creditors to be treated on a par in sharing the proceeds from the winning bid f...
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