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:

Monetary Policy Committee

Reuters Showcase

Microfinance

Microfinance

Funding the unfunded: India helps small business borrow to grow  Full Article 

Insurance Sector

Insurance Sector

UK healthcare firm Bupa sees strong growth in India  Full Article 

Sensex Rises

Sensex Rises

Sensex edges up; consumer and healthcare stocks rise  Full Article 

Market Eye

Market Eye

FTSE adds nine Indian firms as large-caps in Asia-Pacific ex-Japan index   Full Article 

Indian Ocean Diplomacy

Indian Ocean Diplomacy

PM Modi to ramp up help for Indian Ocean nations to counter China influence  Full Article 

ECB Bond-Buying

ECB Bond-Buying

ECB raises growth forecasts, to start printing money next week  Full Article 

China Economy

China Economy

China signals "new normal" with lower annual growth target  Full Article 

Pharma Sector

Pharma Sector

Panel recommends waiving late-stage trials for some drugs  Full Article 

E-commerce

E-commerce

China backs e-commerce expansion in win for Alibaba, JD.com  Full Article 

Reuters India Mobile

Reuters India Mobile

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