Rupee seen ranged with downward bias; shares eyed

The rupee is expected to remain rangebound with a downward bias on Friday amid mixed cues from Asian peers, but month-end dollar demand from oil importers and wariness ahead of the US Fed chairman's speech are seen weighing on the rupee.

Asian currencies were mixed compared to the dollar.
The index of the dollar against six major currencies was down 0.2% at 74.142 points at 0300 GMT in Asian trade, but well above 73.961 points -- when the domestic forex market closed on Thursday.
The MSCI index of Asian stocks ex-Japan and the Nifty India stock futures traded in Singapore were both down 0.2%, suggesting a subdued start to the domestic market.
Some month-end dollar demand from oil refiners could also weigh on the rupee, dealers said.
The partially convertible rupee ended at 46.04/05 to a dollar on Thursday, only marginally weaker from its previous close of 45.99/46.00, but stronger than the intraday low of 46.215 -- a level not seen since September 16.
Caution is likely to prevail before the Federal Reserve chairman Ben Bernanke's speech on Friday evening which will set the tone for world markets next week.