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Rupee down awaits GDP, Bernanke

INDIA-RUPEE-UPDATE:Rupee down awaits GDP, Bernanke

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Reuters

The rupee is lower in early trades tracking weakness in euro, cuts in Asian stocks. The pair is at 55.68/69 versus Thursday close of 55.63/64.

Pair is up 0.3 percent in what has been a largely rangebound week.

Next cue to come from GDP data, due 11 a.m. A below-expectation print likely to be positive for pair in immediate trades, but will mirror equity market reaction.

Dealers may square positions ahead of Jackson Hole.

Traders cut most of bearish bets on rupee to square positions, a Reuters poll showed.

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First Published: Aug 31 2012 | 9:34 AM IST

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