LM:Rupee gains after lower-than-expected inflation data
Mumbai: The Indian rupee gained after India’s inflation data showed a slower-than-expected rise in wholesale inflation in January.
The partially convertible rupee opened at 53.8 against Wednesday’s close of 53.8187 up 0.06%.
India’s annual wholesale price inflation eased to 6.62% in January, below expectations of 7%. Core inflation rose 4.1%, slower than an expected 4.2% rise.
The dollar-rupee pair is expected to be seen holding in a 53.70 to 53.90 range during the rest of the session.
