Rupee lower; RBI intervention eyed

Fri Nov 16, 2012 9:45am IST

A Kashmiri shopkeeper staples together currency notes to make a garland at a market in Srinagar September 3, 2012. REUTERS/Fayaz Kabli/Files

A Kashmiri shopkeeper staples together currency notes to make a garland at a market in Srinagar September 3, 2012.

Credit: Reuters/Fayaz Kabli/Files

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Reuters Market Eye - The rupee is lower in opening trades, tracking losses in most Asian FX, regional stocks, dealers say. Pair at 54.89/90 versus last close at 54.70/71.

Foreign bank dealer says any possible central bank intervention will be watched, after some talk about the RBI selling USD in the last session.

Pair likely to closely track euro moves, dealers say.

Nifty futures in Singapore up 0.07 percent, while MSCI's Asia ex-Japan index down 0.05 percent.

Most Asian FX including won, Singapore dollar weaker.

The yen steadied in early Asian trading on Friday after plunging to a six-and-a-half-month low against the dollar in the previous session on expectations a new Japanese government would put pressure on the Bank of Japan to ease further.

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