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Rupee little moved; inflation data eyed

Rupee little moved; inflation data eyed
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First Published: Fri, Apr 25 2008. 11 49 AM IST
Updated: Fri, Apr 25 2008. 11 49 AM IST
By Reuters
Mumbai: The Indian rupee was little moved in opening deals on 25 April, and traders said they were waiting to take fresh positions until after the annual inflation data was released later in the day.
• At 9:06 a.m., the partially convertible rupee was at 40.165/175 per dollar, little changed from its close of 40.17/18 on 24 April, its lowest since 27 March, according to Reuters data.
• At noon (0630 GMT) India will announce annual inflation data for the second week of April. The rate may rise to 7.38%, versus 7.14% the previous week, a Reuters poll showed. It hit a three-year high of 7.41% in late March.
• The Reserve Bank of India reviews monetary policy on 29 April, and analysts are split whether the central bank will raise interest rates, with a slim majority of economists polled by Reuters predicting no change to interest rates.
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First Published: Fri, Apr 25 2008. 11 49 AM IST
More Topics: Markets | India | Rupee | Inflation | Money Matters |