Rupee in tight band ahead of Diwali holidays
Reuters Market Eye - The rupee is trading in very narrow band ahead of Diwali holidays next week. Pair at 54.33/35 versus Thursday's close of 54.36/37. It has traded in a 54.27-54.38 band.
FX markets shut on Nov 13 and Nov 14 for Diwali holidays.
Pair opened lower helped by some recovery in euro in Asian session.
Private bank dealer tips 54.10-54.95 band next week.
Sentiment on INR has turned negative again, as per a Reuters poll of forex strategists.
- Tweet this
- Share this
- Digg this
Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article