ET:Rupee at 1-week high; foreign banks seen buying
Rupee reverses losses to trade at a one-week high of 52.70/71 versus its previous close of 52.64/65 tracking gains in the dollar versus the euro.
The euro fell pulling further away from recent highs as uncertainty about when Spain will apply for a bailout and fresh concerns about Greece weighed on investor sentiment.
Traders say there has been a change in sentiment for the euro broadly and that is likely to affect the USD/INR pair as well, with the possibility of further gains over the week. Foreign banks were major buyers of dollars, dealers said.
