| Date: |
29-10-2010 |
| Subject: |
Rupee inches lower; shares, dollar watched |
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MUMBAI: The Indian rupee was inched marginally lower on Friday as seesawing local shares and mostly steady dollar overseas provided little direction, but some residual month-end demand from importers weighed.
At 9:40 a.m., the partially covertible rupee was at 44.57/58 per dollar, weaker compared with 44.52/53 at close on Thursday.
Shares flip flopped in early trade on Friday, as sentiment was subdued on weak Asian equites.
The index of the dollar against six major currencies was marginally higher. However, most Asian units rose against the dollar.
Traders said there was some month-end dollar buying from oil firms and other importers, which was weighing on the rupee and they expect a broad trading range of 44.45-44.65 during the session.
Source : economictimes.indiatimes.com
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