Sunday, September 27, 2009

Indian rupee seen steady, watch stocks for cues

The Indian rupee is expected to be steady on Tuesday as local shares are seen trading rangebound, in line with Asian markets.
* At 8:40 a.m. (0310 GMT), Nifty India stock futures traded in Singapore SINc1 were down 0.3 percent. The Morgan Stanley index excluding Japan .MIAPJ0000PUS was up 0.6 percent.
* One-month offshore non-deliverable forward rupee contracts PNDF traded in Singapore were quoted at 48.17/48.27 per dollar.
* The index of the dollar's .DXY versus six majors was down 0.3 percent.
* U.S. crude prices rose towards $70 a barrel on Tuesday, after a sharp decline in the previous session on renewed concerns about ongoing weakness in energy demand. [O/R].
* The partially convertible rupee INR=IN ended at 48.13/48.14 per dollar on Friday, a shade above Thursday's close of 48.15/16. The market was closed on Monday for a public holiday. http://marketmantra.in/Currency.asp

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