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Rupee loses a bit; inflows watched

Source : REUTERS
Last Updated: Mon, Apr 22, 2013 04:35 hrs
An employee arranges Indian currency notes at cash counter inside a bank in Agartala

The rupee is marginally weaker in opening trades after flattish open. The pair is at 54.01/02 versus its previous close of 53.96/97.

Dealers say some bunched up inflows may provide support to the Indian rupee. The pair seen consolidating around 53.85-54.10 levels.

Foreign funds were provisional buyers of 9.40 billion rupees of stocks on Thursday.

Indian financial markets were closed on Friday for a local holiday.

Local stocks gain in early trades, up 0.44 percent.

The yen started the new week under pressure, with the dollar just a whisker away from the elusive 100 level, after the Group of 20 countries stopped short of criticising Japan's reflationary policies that have sent its currency tumbling.

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