(Bloomberg) -- India's rupee advanced to a nine-year
high on speculation overseas investors will buy stocks of local
companies offering shares in the coming weeks.
The currency rose for a second day, breaching 40.50 for the
first time since May 1998, as global funds bought $3.7 billion
more of Indian stocks than they sold this year as of May 24,
surpassing $2.9 billion of purchases in the same period last year,
according to data compiled by Bloomberg. DLF Ltd., a New Delhi-
based real-estate developer, plans to sell as much as $2.4 billion
of shares through an initial public offering starting June 11.
Read more at Bloomberg Currencies News
high on speculation overseas investors will buy stocks of local
companies offering shares in the coming weeks.
The currency rose for a second day, breaching 40.50 for the
first time since May 1998, as global funds bought $3.7 billion
more of Indian stocks than they sold this year as of May 24,
surpassing $2.9 billion of purchases in the same period last year,
according to data compiled by Bloomberg. DLF Ltd., a New Delhi-
based real-estate developer, plans to sell as much as $2.4 billion
of shares through an initial public offering starting June 11.
Read more at Bloomberg Currencies News
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