Indian rupee seen down on euro zone worries

Mon Apr 16, 2012 8:13am IST

Related Topics

MUMBAI, April 16 (Reuters) - The Indian rupee is likely to
open lower on Monday as outlook on capital inflows turned cloudy
again after Spanish yields surged, reigniting worries over
Europe's debt crisis and hurting risk appetite.	
    * Inflation data due around noon (0630 GMT) would be watched
for its impact on shares. A Reuters poll showed analysts expect
March inflation to ease slightly to 6.70 percent.
 	
    * The data comes a day before the central bank policy
review, when it is widely expected to cut rates by 25 basis
points to 8.25 percent. It would be the first rate reduction in
three years. 	
    * The rupee is seen opening around 51.50 to the
dollar and could weaken to as much as 51.65, putting the market
on guard for possible central bank intervention. It closed at
51.305 on Friday.	
    * At 0231 GMT, the MSCI index of Asian stocks ex-Japan
 was down 0.7 percent, and the Nifty India stock
futures index in Singapore was 0.5 percent lower.	
	
 (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

Market Eye

REUTERS SHOWCASE

Bullish on Equities

Bullish on Equities

Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs  Full Article 

Streamlining Operations

Jet Streamlines

Jet Airways chairman says looking to restructure debts, talking to bankers  Full Article 

Political Economy

Political Economy

Analysis - Watch what markets don't do as world politics turns nasty   Full Article 

Photo

Honda's India Thrust

Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec   Full Article 

Short of Expectations

Short of Expectations

Apple revenue lags Street's view despite strong China growth  Full Article 

Mircosoft Results

Microsoft Results

Microsoft revenue rises, profit falls as Nokia absorbed  Full Article 

Relief For Sahara

Relief For Sahara

Supreme Court could allow Sahara boss to conduct asset sale talks, company says.  Full Article 

Photo

Food Scandal

Five held in China food scandal probe, including head of Shanghai Husi Food   Full Article 

Reuters India Mobile

Reuters India Mobile

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