Indian rupee against US dollar continues to trade stronger; oil demand aids

Apr 15 2014, 13:59 IST
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SummaryIndian rupee against US dollar trading at 60.32/33 versus its Friday's close of 60.1750/1850 on demand for the greenback from oil refiners.

Indian rupee against US dollar trading at 60.32/33 versus its Friday's close of 60.1750/1850 on demand for the greenback from oil refiners.

Losses in other Asian units versus the dollar also aid sentiment for the pair. Most emerging Asian currencies dipped on Tuesday, burdened by a strong dollar after upbeat U.S. retail sales data and ongoing tensions in Ukraine.

The pair is seen holding in a 60.20 to 60.50 range during the rest of the session.

Traders say the higher-than-expected wholesale inflation data had little impact on the Indian rupee and traders are awaiting the retail inflation data, a measure which the central bank now focuses on for direction.

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