Reuters Market Eye - The rupee gains gains after data shows a slower-than-expected rise in wholesale inflation in January. The pair trading at 53.84/85 from 53.89/90 levels before the data.
USD/INR closed at 53.82/83 on Wednesday.
India's annual wholesale price inflation eased to 6.62 percent in January, below expectations of 7 percent. Core inflation rose 4.1 percent, slower than an expected 4.2 percent rise. (Read full story here)
The pair is seen holding in a 53.70 to 53.90 range during the rest of the session.
(Reporting by Swati Bhat)
Trending On Reuters
Over a dozen debt-laden farmers have committed suicide in recent weeks in India, and discontent in many rural areas against government policies is turning into anger against Prime Minister Narendra Modi less than a year after he swept into office. Full Article