Rupee Higher in Opening Trade

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December 10, 2012 3:48 PM EST

The rupee higher at 54.32/33 levels in opening trades as regional equities were positive. The pair had closed at 54.47/48 on Friday.

Asian FX were trading mixed.

"The INR opened positive but also immediately got offered. It seems that the market is front-running for the Bharti Infratel IPO," says private bank dealer.

Parliament will be watched with the banking act amendment bill, a key financial bill, likely to come up for passage.

Bharti Infratel Ltd, the telecommunications tower unit of top phone carrier Bharti Airtel Ltd (BRTI.NS), is set to raise up to $825 million in what would be the country's biggest initial share offering in two years.

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Copyright 2012 Thomson Reuters. All rights reserved.

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