Rupee lower on month-end dollar demand
Fiscal defict, GDP data eyed
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<a href = "http://www.shutterstock.com/pic-107807486/stock-photo-image-showing-folded-indian-notes-of-rs.html?src=p5N32CFr8-mqwY5wKad6IA-1-21" target="_blank"> Rupees image </a> via Shutterstock.com
The rupee is trading lower at 62.06/07 per dollar versus its close of 61.98/99 on Wednesday.
Month-end dollar demand from importers is likely to keep the USD/INR pair bid.
"Euro and other majors are lower compared to our Wednesday close," says a senior dealer.
The fiscal deficit figures for April-January period and GDP data for Oct-Dec quarter are awaited.
The dollar held steady against the yen and the euro on Friday, after a surge in US equities confirmed investor appetite for risk and helped the currency recoup some of the losses suffered earlier on geopolitical concerns.
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First Published: Feb 28 2014 | 9:41 AM IST