Rupee inches higher; month-end oil demand limits fall
Reuters Market Eye - The rupee inches higher to 53.87/88 versus its Monday's close of 53.91/92, tracking some risk-taking seen in regional markets, but month-end dollar demand from oil firms limits the fall.
Asian shares rise as recent selling draws bargain hunters, but investors are cautious ahead of more U.S. economic reports and a Federal Reserve policy decision later in the week that may offer clues to the Fed's stimulus plans.
Traders are awaiting the RBI's monetary policy decision due at 11 a.m. for further direction. The market sentiment is cautious after the RBI said in its macro-report on Monday that a sustained commitment to contain the fiscal and current account deficits was needed to create room for monetary easing.
(Reporting by Swati Bhat)
- Tweet this
- Share this
- Digg this
- Malaysia Airlines plane missing at sea off Vietnam, presumed crashed
- Hollywood blockbuster 'Noah' faces ban in Arab world
- UPDATE 3-U.S. FDA probes cognitive impact of new cholesterol drugs
- IndiGo plane evacuated after rear wheel catches fire in Nepal
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
PLANE GOES MISSING
A Malaysia Airlines flight carrying 227 passengers and 12 crew went missing over the South China Sea on Saturday, presumed crashed, as ships and planes from countries closest to its flight path scoured a large search area for any wreckage. Full Article