Indian Corrency Tips

• Rupee extended gains in afternoon trade on Wednesday supported by dollars inflows and gains in the domestic equities on improved global risk appetite.

• The rupee slumped to a record low of 54.30 to the dollar last Thursday, down about a fifth from its year-high in July.

• The euro extended gains in Asian trade on Wednesday, on short-covering ahead of the European Central Bank`s first offer of three-year loans.

• Moody`s on Wednesday raised India`s local currency debt rating by one notch to Baa3, matching it with the country`s foreign currency bond grade.