Rupee edges up; oil demand limits downside

Mon Nov 26, 2012 9:47am IST

Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files

Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012.

Credit: Reuters/Vivek Prakash/Files

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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.

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