Rupee flat, tracks weak shares

The rupee is trading at 59.28/29 versus its close of 59.29/30 on Tuesday, tracking mixed Asian currencies and weakness in the domestic sharemarket.

 

Traders expect the pair to trade in a range of 59.25 to 59.45 for the day.

 

Traders will continue to monitor foreign fund flows into the debt and equity markets for near-term direction, while consumer price inflation data due on Thursday will also be watched, though a large impact on the foreign exchange market is unlikely.