Rupee higher on selling interest; factory output data eyed

Reuters Market Eye - The rupee higher in opening trades, tracking gains in Asian FX, positive regional stocks. The pair is at 54.26/27 versus last close at 54.41/42.

Private dealer says good selling interest seen with likely trading range in 54.05-54.45 band for the session.

January factory data likely to show 1.2 percent growth, Reuters poll says. (Read full preview http://in.reuters.com/article/2013/03/12/india-factory-output-january-idINDEE92B02B20130312)

Euro's recovery from Friday's slide also helping INR.

Share sales inflows will be watched with National Aluminium Co likely to fetch $260 million for the government later this week.

Financial Express reports the government may raise foreign fund limit in debt to $100 billion, a move if happens will be INR positive.

 

(Reporting by Subhadip Sircar)