Rupee is trading at 60.66/67 in early trade
IFC bond programme will enable a better funding initiative for infrastructure projects; Picture used for representational purpose. (photo: DC/File)
Mumbai: The rupee is trading at 60.66/67 versus Monday's close of 60.5250/5350. Tracks weaker emerging Asian FX after US Labour Day holiday on Monday. Data showing current account deficit (CAD) widening sharply from previous quarter seen as partly seasonal. CAD is still sharply narrower than a year earlier and traders say within sustainable limits.
Balance of payments was in surplus for a third straight quarter. The rupee is seen in a 60.50-60.75 range. Exporters expected to step up dollar sales around 60.70.
( Source : reuters )
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