Rupee lower; market to be flows driven
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)
- Tweet this
- Share this
- Digg this
- In his native Alabama, Apple CEO's announcement he is gay prompts discomfort for some
- Xiaomi moves into third place in global smartphone war
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- U.S. nurse defies Ebola quarantine with bike ride; negotiations fail
The BSE Sensex and Nifty on Friday rose to their second consecutive record highs. The 30-share Sensex surged as much as 1.3 percent to an all-time high of 27,706.80. The broader Nifty gained as much as 1.28 percent to a record of 8,275.15. Full Article