MARKET EYE-USD/INR seen rising on importer demand; stocks watched

Tue Nov 5, 2013 8:53am IST

* USD/INR seen opening at around 61.95 versus its close
of 61.74/75 on Friday, helped by demand for the greenback from
importers.
* The dollar's index against six major currencies
currently up 0.03 percent.
* Most other Asian currencies however trading stronger compared
to the dollar and could limit sharp gains. 
* The euro clung to modest gains early in Asia on Tuesday,
having bounced off a seven-week low on the back of improving
euro zone data, but talk of a rate cut this week should curb
demand for the common currency. 
* The MSCI index of Asian shares ex-Japan 
trading down 0.14 percent while the Nifty stock futures traded
in Singapore down 0.1 percent. Traders will watch
domestic shares for cues on foreign fund flows.
* Also on watch, India HSBC Service PMI at 0500 GMT.
* USD/INR seen trading at 62.04/62.07 in the offshore NDF
market.
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Coal Block Allocation

Coal Block Allocation

Government urges Supreme Court to not cancel some 'illegal' coal mines  Full Article 

Modi in Japan

Modi in Japan

Japan and India agree to boost strategic ties at summit  Full Article 

HSBC PMI

HSBC PMI

Factory activity expands at slower clip in August.  Full Article 

Current Account

Current Account

Balance of payments surplus for third straight quarter  Full Article 

India Infrastructure

India Infrastructure

RBI rule handicaps India's infrastructure hopes  Full Article 

Book Talk

Book Talk

Reema Abbasi and a glimpse of Pakistan’s Hindu past  Full Article 

China Economy

China Economy

Retreat in China's PMIs heightens calls for policy easing.  Full Article 

Reuters India Mobile

Reuters India Mobile

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