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Rupee edges higher as regional shares stronger
August 21, 2012 / 4:01 AM / 5 years ago

Rupee edges higher as regional shares stronger

Reuters Market Eye - Rupee opens higher in line with gains in local shares, dealers say. The pair is at 55.58/59 versus 55.73/74 last close.

An Indian one rupee coin is seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files

USD/INR 1-month NDF trading at 55.88 after closing NY trading at 56.08-13.

Dealers say a fall in crude oil prices will keep the pressure on the pair.

The euro trod water on Tuesday but appeared increasingly vulnerable to a reverse amid festering doubts over whether policymakers can reach an accord for action next month to lift some pressure off debt stricken euro zone countries.

There may be upward pressure on the pair as month-end approaches but trading will broadly be range-bound, traders added.

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