Rupee rises, but price action seen not too encouraging
MUMBAI, Sept 12 (Reuters) – The rupee was marginally higher on Tuesday, but some traders reckoned that the recent price action signalled that the currency was unlikely to have much upside. The rupee was at 82.98 as of 10:50 a.m. IST, compared with 83.03 in the previous session. The currency had opened at 82.94. “It’s a bit like yesterday, in that you have good buy orders (for dollar),” a forex trader at a bank said. “Based on what I have seen yesterday and today, would say we are higher (on USD/INR) from here despite what the RBI (Reserve Bank of