Rupee edges up; oil demand limits downside
Reuters Market Eye - The rupee edges up to 55.42/43 versus its previous close of 55.535/545, tracking the greenback's losses versus other Asian currencies and a slight risk-on mood in global markets.
Asian shares inch up on Monday on hopes that Greece can avoid a near-term bankruptcy.
Euro at a seven-month high against the yen and a one-month peak against the dollar.
Nifty India stock futures traded in Singapore up 0.3 percent, suggesting a positive start to the local market.
Traders expect oil-related dollar demand to meet month-end import commitments to prevail through the day, limiting any sharp fall in the pair. USD/INR seen moving in a 55.30 to 55.60 range initially.
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Kentucky firefighter critical after ice bucket challenge mishap
- Indians keep faith with Modi, best hope for economy - poll
- Oil ministry to seek Cabinet nod on diesel deregulation - sources
- WHO warns of 'shadow zones' and unreported Ebola cases
More than 70 percent of Indians are satisfied with the leadership of Prime Minister Narendra Modi since he took office nearly three months ago, an opinion poll showed, seeing in him the best hope to put the economy back on track. Full Article
India to hike iron ore royalty, miners may struggle to pass on extra cost. Full Article