Indian rupee seen lower against US dollar on strength in Asian currencies

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Indian rupee seen opening at around 62.38/43 versus its close of 62.5250/5350 on Wednesday. PTI Indian rupee seen opening at around 62.38/43 versus its close of 62.5250/5350 on Wednesday. PTI
SummaryIndian rupee seen opening at around 62.38/43 versus its close of 62.5250/5350 on Wednesday.

Indian rupee seen opening at around 62.38/43 versus its close of 62.5250/5350 on Wednesday, tracking strength in other Asian currencies.

"U.S. jobs report on Friday is the next big data point to watch, before that I don't see any significant activity," a dealer said.

The dollar's index against six major currencies currently down 0.04 percent.

Most other Asian currencies trading stronger compared with the dollar. See for a snapshot.

USD/INR seen trading at 62.37/39 in the offshore NDF market.

The yen got off to a weak start in Asia on Wednesday having retreated from multi-month highs as emerging markets stabilised and stocks rebounded.

The MSCI index of Asian shares ex-Japan trading down 0.2 percent while the Nifty India stock futures traded in Singapore are down 0.4 percent.

Overseas investors sold Indian shares worth $196.3 million on Tuesday, provisional exchange data shows.

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