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.
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