RTRS: Indian rupee rises as stocks, Asian units gain
* Foreigners buy $550 mln of stocks over 8 days
* Month-end import demand for dollars seen (Updates to mid-morning)
MUMBAI, March 26 (Reuters) - The Indian rupee strengthened on Thursday tracking gains in other regional currencies and a rise in the local share market, which raised expectations for foreign fund inflows.
At 10:20 a.m. (0450 GMT), the partially convertible rupee was at 50.65/66 per dollar, off a high of 50.58 but 0.1 percent higher than its Wednesday's close of 50.74/75.
"The initial gains are tracking other regionals but there is demand coming in from importers and refiners, so these gains are unlikely to sustain through the day," a dealer with a private bank said.
"It is likely to stay in a 50.50 to 51 band," he added.
Indian shares .BSESN climbed more than 1.5 percent early, extending their rise to a fourth consecutive day tailing Asian peers after strong U.S. data sparked hopes for a recovery in the global economy. [.BO]
Foreigners have been net buyers of nearly $550 million worth of shares over eight sessions to Tuesday, which has helped the rupee gain 3.1 percent from its record low of 52.2 earlier this month.
Most Asian units were higher against the dollar. For a snapshot see
