MARKET EYE-USD/INR seen rising on importer demand; stocks watched
* 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.
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
In a fresh bid to make India an enduring strategic partner, U.S. President Barack Obama lands in New Delhi on Sunday for a highly symbolic parade and to nurture friendship with a prime minister who until last year was persona non grata in Washington. Full Article | Top issues during the visit