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Rupee up; headed for biggest gain in 5 weeks

Source : REUTERS
Last Updated: Fri, Jan 11, 2013 10:16 hrs
Kashmiri woman walks under garland made of Indian currency notes in Srinagar

The rupee rises to one-week high at open on sharp gains in euro, with pair at 54.44/46 versus last close at 54.56/57. It rose to 54.40, the highest since January 3.

Pair headed for biggest weekly fall in five, down 1.1 pct.

ECB held rates steady and gave no indication of a near term cut, resulting in the common currency having its biggest daily gain in five months.

Most Asian currencies trading with gains.

November factory data due 11 a.m. with Reuters poll predicting a 0.7 pct rise. More crucial will be December headline inflation due Monday for rate move.

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