Li Keqiang's India Visit
With wary eye on the U.S., China courts India
Chinese Premier Li Keqiang, smiling and effusive, was out to smooth ruffled feathers in India this week, promising to ease tensions and increase trade between Asia's fastest growing economies in his first trip overseas since taking office. Full Article | Slideshow
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Rupee off lows as euro rallies; oil demand seen
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A grocery shop owner counts rupees notes in Ahmedabad May 23, 2012.
Credit: Reuters/Amit Dave/Files
Reuters Market Eye - The rupee falls to 56.28/30 from its 56.12/13 previous close, though above session low of 56.44.
Dealers say USD/INR off session high as euro rallies on media reports that European Central Bank policymaker Ewald Nowotny saw grounds for giving the euro zone bailout fund a banking licence.
Senior dealer tips 56.10-56.45 range for the rest of the session.
Month-end dollar demand from oil companies also seen, supporting USD/INR.
Custodian banks, including a U.S. bank, seen selling intermittently, but not much impact as USD demand is strong.
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