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MARKET EYE-USD/INR seen edging higher at open; RBI policy decision eyed
June 3, 2014 / 3:12 AM / 3 years ago

MARKET EYE-USD/INR seen edging higher at open; RBI policy decision eyed

* USD/INR seen edging higher versus its close of 59.1525/1625 on
Monday, tracking losses in most other Asian currencies versus
the dollar with caution prevailing ahead of the central bank's
monetary policy review decision due at 0530 GMT.
* Reserve Bank of India Governor Raghuram Rajan is expected to
keep the country's key lending rate unchanged and temper his
tough rhetoric on inflation in a conciliatory gesture to a new
government elected on a platform of reviving economic growth.
* Most analysts in the Reuters poll also expect no change in the
policy rates. 
* Traders will monitor domestic shares for cues on foreign fund
flows. The Nifty futures traded in Singapore currently
up 0.3 percent. 
* Most Asian currencies trading weaker against the dollar. See
 for a snapshot.
* The pair seen trading at 59.21/23 in the offshore non
deliverable forwards.


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