Rupee higher in trade, still below 56 against dollar

Rupee edges higher in volatile trading at 56.11/12 versus its Wednesday's close of 56.17/18, tracking gains in regional currencies.

Asian currencies are mostly trading stronger versus the dollar.

Local shares marginally lower at opening, down 0.2 per cent.

The dollar remained under pressure in early Asian trading on Thursday, after tumbling more than 1 per cent against the yen in the previous session, on growing expectations that the US Federal Reserve will maintain its stimulus for the time being.

Dealers will watch the gross domestic product data scheduled to be released on Friday, and are hoping weaker growth will push the RBI to cut interest rates again next month.

Copyright: Thomson Reuters 2013