Rupee to dollar: Indian curency seen opening higher on Iraq, US Fed meet

Jun 17 2014, 09:05 IST
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Overseas investors sold Indian shares worth $32.50 million on Monday, provisional exchange data shows. (Rupee) Overseas investors sold Indian shares worth $32.50 million on Monday, provisional exchange data shows. (Rupee)
SummaryIndian rupee tracking subdued equity markets, and on escalating tension in Iraq...

Indian rupee seen opening at around 60.20 against the US dollar versus its previous close of 60.1550/60.1650, tracking subdued equity markets, and on escalating tension in Iraq and caution ahead of the outcome of U.S. Federal Reserve's two-day meet.

The MSCI index of Asian shares ex-Japan as well as the Nifty India stock futures traded in Singapore trading 0.2 percent lower each.

Overseas investors sold Indian shares worth $32.50 million on Monday, provisional exchange data shows.

The partially convertible currency is seen trading in a range of 60 to 60.6 during the session. * The dollar's index against six major currencies currently up 0.06 percent.

Indian rupee seen trading at 60.15/60.18 to US dollar in the offshore NDF market

The dollar fluttered in a narrow range in Asia on Tuesday, caged by caution ahead of this week's U.S. Federal Reserve meeting and concern about the developing crisis in Iraq.

On watch, Reserve Bank of India Governor Raghuram Rajan will speak at a banking conference on the previous Congress government appointed Financial Sector Legislative Reforms Commission report.

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