Indian rupee seen opening stronger against the US dollar, domestic shares watched

Nov 06 2013, 09:37 IST
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Indian rupee to the US dollar seen trading at 62.15/62.18 in the offshore NDF market. AP Indian rupee to the US dollar seen trading at 62.15/62.18 in the offshore NDF market. AP
SummaryIndian rupee seen opening at around 62.00 against the US dollar versus its close of 61.625/635 on Tuesday.

Indian rupee seen opening at around 62.00 against the US dollar versus its close of 61.625/635 on Tuesday tracking NDF prices and US Federal Reserve tapering fears. The US dollar maintained a bid tone early in Asia on Wednesday after an upbeat US report kept alive some expectations the Federal Reserve might scale back stimulus as soon as next month.

Indian rupee to the US dollar seen trading at 62.15/62.18 in the offshore NDF market.

The US dollar index against six major currencies currently down 0.1 percent.

Most other Asian currencies trading weaker compared to the dollar.

The MSCI index of Asian shares ex-Japan trading up 0.11 percent while the Nifty India stock futures traded in Singapore down 0.21 percent.

Traders will watch domestic shares for cues on foreign fund flows.

Quote: BSE Sensex

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