Rupee lower; market to be flows driven

Wed Dec 26, 2012 9:25am IST

A shopkeeper poses for a picture as he counts Indian currency notes at his shop in Jammu May 16, 2012. REUTERS/Mukesh Gupta/Files

A shopkeeper poses for a picture as he counts Indian currency notes at his shop in Jammu May 16, 2012.

Credit: Reuters/Mukesh Gupta/Files

Related Topics

Reuters Market Eye - Rupee opens lower, in line with weakness in most Asian FX as U.S. fiscal impasse looms, dealer says. The pair at 55.07/08 versus 54.95/96 Monday close.

"The market being illiquid it won't trade on fundamentals with flows dominating," says foreign bank dealer, who expects the rupee to trade in 54.95-55.35 band in the session.

Most Asian currencies including rupiah, peso, Sing dollar trading softer.

The Dollar Index trading at 79.703, up 0.09 pct, after it rose as high as 79.780 on Tuesday.

The yen sank to a 20-month low in Asian trading on Wednesday, as Shinzo Abe prepared to assume Japan's helm with a mandate to weaken its currency and push for more drastic monetary and fiscal stimulus.

(Reporting by Subhadip Sircar)

FILED UNDER:

Politics of Religion

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Chinese Economy

Chinese Economy

China revises up size of 2013 economy, sees no effect on 2014 growth.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage