Rupee seen ranged, Asian peers watched
The rupee is expected to open little changed on Monday tracking firmer Asian peers and mixed regional stocks.
January 10, 2011 / 10:27 IST
The rupee is expected to open little changed on Monday tracking firmer Asian peers and mixed regional stocks.
Traders expect the rupee to move in 45.20-45.50 per dollar band, with exporter selling at around 45.40-45.50. Demand for dollars from oil importers will keep the rupee ranged.The rupee had ended at 45.38/39 on Friday, after touching 45.48, its weakest since December 20 and below its Thursday's close of 45.245/255.Asian currencies were higher despite the dollar rising against the major global currencies after the weaker-than-expected US jobs data. The euro plumbed four-month lows versus the dollar in early Asia after stops were triggered in thin trade as worries about Europe's debt crisis mounted. The index of the dollar was at 81.077, up 0.08% after rising to 81.199 in early trade. The dollar's upside, however, looked limited after the closely watched report showed a rise of 103,000 jobs in November, well short of economists' expectation for 175,000.At 0301 GMT, the MSCI index of Asian shares ex-Japan was trading down 0.23%, while the Nifty India stock futures traded in Singapore were up 0.14%. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
