Rupee marginally lower, fresh cues awaited

The rupee is stuck in a tight band, trading marginally lower on the day at 59.40/41 versus its previous close of 59.35/36 on the back of some dollar demand from importers.

Traders say the market awaiting clarity from policymakers following the Reserve Bank of India's last week's measures to restrict rupee liquidity and raising of short-term funding interest rates.

The dollar/rupee pair expected to hold in a 59.30 to 59.60 band during the rest of the session.

Copyright: Thomson Reuters 2013