Indian rupee high against US dollar as oil cos step in, core WPI weighs

Jul 14 2014, 15:25 IST
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SummaryMarket awaits consumer price inflation data due to be announced after market hours for further direction.

Indian rupee stronger at 60.10/11 against dollar compared with 59.93/94 Friday's close, due to some dollar demand from oil marketing companies and concerns after core wholesale price inflation came in above expectations, weigh on the rupee.

India reported core wholesale inflation last month of around 3.9 percent in June, slightly higher than market expectations according to traders, even as the headline wholesale price inflation eased to a four-month low of 5.43 percent.

Market awaits consumer price inflation data due to be announced after market hours for further direction.

USD/INR is seen moving in a 60.05 to 60.20 range until close.

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