Reuters logo
Rupee seen higher on global risk rally
July 16, 2012 / 3:33 AM / 5 years ago

Rupee seen higher on global risk rally

Reuters Market Eye - Rupee seen rising in early trade on Monday continuing its rise in the previous session after China’s latest growth data allayed fears of a steeper economic slowdown in the world’s largest consumer of raw materials. Pair last closed at 55.14/15.

An employee checks a 500 rupee note at a cash counter inside a bank in Agartala in this August 9, 2011 file photo. REUTERS/Jayanta Dey/Files

Investors are anxiously watching clues from Federal Reserve this week on its stance over a stronger monetary policy to support the U.S. recovery.

USD/INR 1-month NDF at 55.13 as against NY close at 55.00-05.

Asian stocks trading with cuts with MSCI’s Asia ex-Japan index up 0.31 percent, Nifty futures in Singapore down 0.26 percent.

The euro and high-beta currencies like the Australian dollar started trading on Monday with a spring in their step, following a rally late last week in part on the back of diminishing worries about China’s economic health.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below