* Rupee ends at 60.1025/1125 per dlr vs 60.12/13 on Thursday
* Good dlr selling by custodian banks offsets import demand
* INR seen in 59.60 to 60.50 broad range next week - traders
By Swati Bhat
MUMBAI, July 25 The Indian rupee ended
marginally higher on Friday, as heavy dollar demand from
importers to meet month-end commitments was offset by greenback
sales from custodian banks, continuing a pattern of largely
Still, the rupee fell 0.3 percent for the week, posting its
first weekly loss in three in a week dominated by flows rather
than major events or factors.
Traders said they will continue to monitor movements in
other Asian currencies and moves in domestic shares for clues in
"There were some heavy dollar inflows with custodian banks
which helped offset the demand from oil firms and other
importers," said Vikas Babu Chittiprolu, a senior foreign
exchange dealer with state-run Andhra Bank.
"Geopolitical tensions will be the key trigger to watch out
for as there are no other factors internally. The 59.80 to 60.50
range will continue to hold."
The partially convertible rupee closed at
60.1025/1125 per dollar, compared with 60.12/13 on Thursday. The
unit hit 59.98 on Thursday, its strongest since July 14.
Traders broadly expect the unit to hold in a range of 59.60
to 60.50 next week.
The rupee continues to be supported by good foreign buying
in Indian shares and debt markets, although that was offset by
importer demand for dollars.
India's broader NSE index fell on Friday after
hitting a record high for a third consecutive session on
profit-taking in blue-chips.
In the offshore non-deliverable forwards, the
one-month contract was at 60.26 while the three-month was at
FACTORS TO WATCH
* Euro battling losses after poor German data
* Rupiah edges up, baht pauses after rally
* Euro, stx sag as Ukraine woes hit German confidence
* Foreign institutional investor flows
* For data on currency futures
DIARIES & DATA:
Indian Data Watch European diary
Indian diary US Diary
(Editing by Subhranshu Sahu)