The rupee opened lower on Thursday tracking global dollar strength, dealers said. The dollar dupe/pair was seen trading at 54.35/36 in early trade, against its previous close at 54.30/31.
The US dollar hovered at seven-month highs against a basket of currencies as investors warmed to the greenback following bullish economic data.
February inflation data, due around 12 p.m., will be closely watched with any reading below 6.5 per cent likely to cement rate cut hopes.
RBI governor D Subbarao's comments on the Budget bring a positive trigger for rate cut hopes, though he said inflation remains high and stubborn.
The rupee opened lower on Thursday tracking global dollar strength, dealers said. The dollar dupe/pair was seen trading at 54.35/36 in early trade, against its previous close at 54.30/31.
The US dollar hovered at seven-month highs against a basket of currencies as investors warmed to the greenback following bullish economic data.
February inflation data, due around 12 p.m., will be closely watched with any reading below 6.5 per cent likely to cement rate cut hopes.
RBI governor D Subbarao's comments on the Budget bring a positive trigger for rate cut hopes, though he said inflation remains high and stubborn.
The rupee opened lower on Thursday tracking global dollar strength, dealers said. The dollar dupe/pair was seen trading at 54.35/36 in early trade, against its previous close at 54.30/31.
The US dollar hovered at seven-month highs against a basket of currencies as investors warmed to the greenback following bullish economic data.
February inflation data, due around 12 p.m., will be closely watched with any reading below 6.5 per cent likely to cement rate cut hopes.
RBI governor D Subbarao's comments on the Budget bring a positive trigger for rate cut hopes, though he said inflation remains high and stubborn.
Copyright @ Thomson Reuters 2013
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