Rupee higher on euro gains awaits factory data

INDIA-RUPEE-IIP-DATA:Rupee higher on euro gains awaits factory data

 

Reuters Market Eye - The rupee opens higher in early trade tracking euro, but now trading off lows, says a dealer. Pair at 54.72/73 after hitting a low of 54.66, versus 54.75/76 Friday close.

The euro held above a two-month low in early Asian trading on Monday after Greece's ruling coalition secured enough votes in parliament on Sunday to approve the 2013 budget law, but its gains were seen limited ahead of a meeting by euro zone finance ministers later in the session.

Volumes likely to be low ahead of a two-day trading holiday due to Diwali festival.

Factory data will be immediate cue with production likely grew at a steady but slow annual pace in September, lifted by infrastructure output, in what is likely to be further evidence of a sluggish economy, a Reuters poll showed.