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Indian rupee to US dollar: US currency edges higher tracking choppy shares,RBI policy in focus

RBI has hinted interest rates may rise yet again,trapping Indian rupee in an uncertain environment.

Written by Reuters | Mumbai | Published: October 29, 2013 10:50:20 am

Indian rupee to US dollar trading at 61.65/66 versus its previous close of 61.52/53 as choppy domestic shares and caution ahead of the Reserve Bank of India’s (RBI) quarterly monetary policy review.

* BSE Sensex trading down 0.2 percent.

The Reserve Bank of India said on Monday it expects inflation to remain near current elevated levels for the remainder of the fiscal year that ends in March.

Analysts expect the RBI to raise its policy interest rate for the second consecutive review due at 0530 GMT on Tuesday.

Asian currencies trading mixed versus the dollar.

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