Rupee falls from 3-week high

The Indian currency is expected to move in 60.90 to 61.30 range

The rupee reversed its direction to trade at 61.17/18 versus Monday's close of 61.0950/1050.

 

The Indian unit had earlier hit 60.90, its highest level since September 23.

 

Traders expect USD/INR to move in a range of 60.90 to 61.30.

 

The Nifty is trading 0.4% lower, while the Sensex is down 0.3%.

 

The dollar rebounded modestly against yen and euro following steep falls overnight.

 

September WPI inflation hit a near five-year low of 2.38%.

 

Traders expect caution to prevail ahead of the Maharashtra election on Wednesday.