LM:Indian rupee inches up slightly on positive stock cues
Mumbai: The Indian rupee was trading marginally higher at 55.57/58 per dollar after opening lower at 55.61 compared with its previous close of 55.59/60.
The stock market may help firm up direction of the rupee.
Dealers will watch for month-end importer demand, particularly from oil companies.
The dollar recovered from two-week lows against the yen on Friday as a safety-bid for the Japanese currency ebbed after the Nikkei share average rebounded from the previous day’s 7.3% plunge and Wall Street regained some stability by the close.
