Rupee lower ahead of key WPI data
RBI and Fed meet also eyed
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The rupee weakened in morning trade today on dollar demand by oil importers. Though the weakness is marginal, currency dealers expect further depreciation during the day.
At 10:30 am, the rupee was trading at 62.20 compared with previous close of Rs 61.13 per dollar.
Dealers are awaiting wholesale price-based inflation data due for release at 11.30 am for cementing views on the likely outcome of the Reserve Bank of India's monetary policy review on Wednesday.
Fed taper fears are also weighing on the rupee with outcome due on Wednesday after the RBI meet.
Last week, retail inflation spiked to its highest on record, raising expectations of another rate hike by the central bank and adding to the woes of the embattled government.
At 10:30 am, the rupee was trading at 62.20 compared with previous close of Rs 61.13 per dollar.
Dealers are awaiting wholesale price-based inflation data due for release at 11.30 am for cementing views on the likely outcome of the Reserve Bank of India's monetary policy review on Wednesday.
Fed taper fears are also weighing on the rupee with outcome due on Wednesday after the RBI meet.
Last week, retail inflation spiked to its highest on record, raising expectations of another rate hike by the central bank and adding to the woes of the embattled government.
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First Published: Dec 16 2013 | 10:33 AM IST