Web Sify
Follow us on

Rupee edges up; oil demand limits downside

Source : REUTERS
Last Updated: Mon, Nov 26, 2012 05:06 hrs
Indian currency of different denominations are seen in this picture illustration taken in Mumbai

The rupee edges up to 55.42/43 versus its previous close of 55.535/545, tracking the greenback's losses versus other Asian currencies and a slight risk-on mood in global markets.

Asian shares inch up on Monday on hopes that Greece can avoid a near-term bankruptcy.

Euro at a seven-month high against the yen and a one-month peak against the dollar.

Nifty India stock futures traded in Singapore up 0.3 percent, suggesting a positive start to the local market.

Traders expect oil-related dollar demand to meet month-end import commitments to prevail through the day, limiting any sharp fall in the pair. USD/INR seen moving in a 55.30 to 55.60 range initially.

More from Sify:
blog comments powered by Disqus
  Cities   Price (10g)
  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
talking point on sify finance