Indian rupee seen rising past 49/dlr to 3-mth high

Thu Feb 2, 2012 8:19am IST

Related Topics

Stocks

   

MUMBAI, Feb 2 (Reuters) - The rupee is likely to
strengthen past 49 to the dollar on Thursday for the first time
in three months after a batch of strong manufacturing data from
China and India to Germany improved hunger for risky assets.	
    * Asian shares and the euro were higher as the data soothed
fears about world economies deteriorating on the back of the
ongoing euro zone debt crisis, while falling European debt
yields also helped sentiment. 	
    * Traders said the rupee would open around 49.05
and move in a band of 48.90 to 49.10. It ended 0.4 percent
stronger on Wednesday at 49.2650/2750.	
    * The currency last strengthened past 49 in early November,
according to Thomson Reuters data.	
   * At 0247 GMT, the MSCI index of Asian stocks
ex-Japan was up 1.18 percent, while the Nifty
India stock futures in Singapore were 0.58 percent
higher, suggesting a positive start for local shares.	
	
 (Reporting by Aditya Phatak; Editing by Ranjit Gangadharan)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Markets

REUTERS SHOWCASE

Segway in India

Segway in India

Segway’s India business pegs hope on tech-savvy Modi  Full Article 

Power Outage

Power Outage

Mumbai hit by power cuts  Full Article 

Commodities

Commodities

Gold imports, premiums to jump on festive demand - top refiner  Full Article 

Economic Worries

Economic Worries

Pakistan's promises to IMF in doubt as protests sap economy   Full Article 

Islamic Finance

Islamic Finance

Basel III deposit challenge looms over Islamic banks   Full Article 

Antitrust Probes

Antitrust Probes

U.S. business lobby says concerned China antitrust probes unfair.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage