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Forex »
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 Rupee depreciated by 17 paise to Rs 45.62 a dollar in early trade
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Rupee seen in narrow range, equities eyed
June, 23rd 2008

The rupee may trade in a tight range on Monday, as traders expect dollar sales by exporters to offset capital outflows due to rising inflation and a bearish trend in the stock market.

Finance Secretary D Subbarao said on Saturday the central bank was expected to take some more monetary action to counter rising inflation. The central bank had raised its key lending rate by 25 basis points to 8.0 percent this month.

The partially convertible rupee ended at 42.93/94 on Friday, off a low of 42.99 and 0.1 percent stronger than Thursday's close of 42.97/98.

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