Rupee edges up; IIP, inflation data awaited

Rupee edges up; IIP, inflation data awaited

Last Updated: Mon, Oct 14, 2013 06:08 hrs
An employee arranges Indian currency notes at cash counter inside a bank in Agartala

The rupee edges up to 61.23/24 versus its close of 61.39/40 on Thursday, tracking gains in regional currencies and the domestic share market.

Almost all Asian currencies are trading higher compared with the dollar.

Domestic shares up 1 percent in early trade in line with other Asian share indices.

Traders will watch the factory output and retail inflation data due post-market hours and the wholesale price inflation data due on Monday for near-term cues.

India is talking with JP Morgan and others to gain entry to benchmark indexes for emerging market debt in hopes of attracting billions of dollars in investment and may ease some restrictions on foreign inflows in order to do so, sources said.

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