Web Sify
Follow us on
Mail
Print

Rupee falls; inflation data awaited

Source : REUTERS
Last Updated: Tue, May 14, 2013 04:29 hrs
An employee arranges Indian currency notes at a cash counter inside a bank in Agartala

Rupee trading marginally lower at 54.77/78 versus its close of 54.73/74 on Monday as broad gains in the dollar versus major currencies earlier in the session and cautiousness ahead of the wholesale price based inflation data aids.

Traders say mild demand from oil companies also helping the dollar but the pair should hold in a range of 54.70 to 54.90 until the WPI data due around noon.

A sharp fall in the WPI can boost shares and indirectly the rupee.

The BSE Sensex moves to be watched for cues on foreign fund flows. The index is currently trading flat.




More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance