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Rupee in tight band ahead of Diwali holidays
November 9, 2012 / 5:32 AM / 5 years ago

Rupee in tight band ahead of Diwali holidays

A shopkeeper poses for a picture as he counts Indian currency notes at his shop in Jammu May 16, 2012. REUTERS/Mukesh Gupta

Reuters Market Eye - The rupee is trading in very narrow band ahead of Diwali holidays next week. Pair at 54.33/35 versus Thursday’s close of 54.36/37. It has traded in a 54.27-54.38 band.

FX markets shut on Nov 13 and Nov 14 for Diwali holidays.

Pair opened lower helped by some recovery in euro in Asian session.

Private bank dealer tips 54.10-54.95 band next week.

Sentiment on INR has turned negative again, as per a Reuters poll of forex strategists.

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