Rupee fell to 55.39/40 on Friday versus its previous close of 55.26/27,
after four sessions of gains, tracking a weaker global risk sentiment
that hit Asian shares.
Trading is seen range-bound for the session and month-end oil demand may push pair higher, especially after a two-day banking strike hit volumes, but steady euro at near seven-week highs versus the dollar on Friday may cap gains.
Government's move to push FDI proposals may offer some sentimental support to rupee with 10 proposals of drug makers up for consideration.
MSCI's Asia ex-Japan down 1 per cent, while India's main stock indexes down around 0.5 per cent on scaled back expectations of more stimulus from the Fed and concerns about global growth.
Copyright @Thomson Reuters 2012
Trading is seen range-bound for the session and month-end oil demand may push pair higher, especially after a two-day banking strike hit volumes, but steady euro at near seven-week highs versus the dollar on Friday may cap gains.
Government's move to push FDI proposals may offer some sentimental support to rupee with 10 proposals of drug makers up for consideration.
MSCI's Asia ex-Japan down 1 per cent, while India's main stock indexes down around 0.5 per cent on scaled back expectations of more stimulus from the Fed and concerns about global growth.
Copyright @Thomson Reuters 2012
