Indian rupee continues to trade lower against US dollar, shares eyed for cues

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Indian rupee trading at 62.30/31 versus its close of 62.42/43, tracking US dollar's losses versus most other Asian currencies. PTI Indian rupee trading at 62.30/31 versus its close of 62.42/43, tracking US dollar's losses versus most other Asian currencies. PTI
SummaryIndian rupee trading at 62.30/31 versus its close of 62.42/43, tracking US dollar's losses versus most other Asian currencies.

Indian rupee trading at 62.30/31 versus its close of 62.42/43 on Thursday, tracking the dollar's losses versus most other Asian currencies while a drop in wholesale price inflation also aids.

India's wholesale price-based inflation eased to an eight-month low in January as food prices moderated, offering some relief to policymakers who have long battled to get a handle on surging prices.

Weaker sales data in the United States also raised some investors' expectations for a slower reduction in the Federal Reserve's monetary policy stimulus, aiding all emerging market currencies.

Local shares trading down 0.1 percent and will be watched for cues on foreign fund flows during the session.

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