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MARKET EYE-USD/INR opens lower; Bharti Infratel IPO watched
December 10, 2012 / 4:02 AM / 5 years ago

MARKET EYE-USD/INR opens lower; Bharti Infratel IPO watched

* USD/INR weaker at 54.32/33 levels in opening trades
as regional equities were positive. The pair had closed at
54.47/48 on Friday.
* Asian FX were trading mixed. For details, see 
* "The INR opened positive but also immediately got offered. It
seems that the market is front-running for the Bharti Infratel
IPO," says private bank dealer.
* Parliament will be watched with the banking act amendment
bill, a key financial bill, likely to come up for passage.
* Bharti Infratel Ltd, the telecommunications tower unit of top
Indian phone carrier Bharti Airtel Ltd, is set to
raise up to $825 million in what would be the country's biggest
initial share offering in two years.

 (subhadip.sircar@thomsonreuters.com; +91-22-61807201; Reuters
Messaging: subhadip.sircar.thomsonreuters.com@reuters.net)

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