The Indian rupee climbed on Wednesday, a day after hitting a one-week low, supported by the euro's gains against the dollar and higher domestic shares. The rise, however, was tempered on market talk state oil refiners, the country's biggest crude importers, may be asked to buy dollars in the coming week when a $3.5 billion IPO by Coal India opens to prevent a sharp appreciation in the rupee.
At 11:36 am (0606 GMT), the partially convertible rupee was at 44.48/49 per dollar, stronger than 44.66/67 at close on Tuesday when it had dropped during trade to 44.7650, its lowest since October 5. The index of the dollar against six majors was down 0.22 percent.