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Indian rupee inches lower against US dollar; debt-related dollar inflows aid, Moody's weighs

Jan 16 2014, 15:23 IST
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SummaryIndian rupee marginally weaker against US dollar at 61.52/53 versus its previous close of 61.54/55...

Indian rupee marginally weaker against US dollar at 61.52/53 versus its previous close of 61.54/55, as debt-related dollar inflows hurt the pair while comments from Moody's also weigh.

Foreign funds have bought nearly $2 billion worth of Indian debt so far in January. * Traders said comments from a Moody's analyst saying India was unlikely to be downgraded also helped the rupee.

Traders expect the pair to hold in a 61.42 to 61.65 range during the rest of the session.

Domestic shares trading down 0.1 percent and will be watched for cues on foreign fund flows.

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