BS:Rupee extends gains on WPI; exporters sell dollars
The rupee extended gains after headline inflation eases further, holding out some hopes for a rate cut, say dealers. The Indian unit is at 57.64/65, off 57.93 lows, versus 57.98/99 Thursday close.
Local stocks extended gains and were up 1.6%.
The headline inflation slowed for a fourth straight month in May to 4.7% from a year earlier.
Exporters selling to take advantage of better rates, dealers added.
A Reuters poll, however, showed that a majority expect RBI to hold rates on Monday.
USD/INR up 1 pct for week, heading for a sixth straight week of gains.
