Indian Rupee witnesses another session of lackluster trading - Aditya Birla Money

The Indian Rupee witnessed yet another session of lackluster trading as prices traded in a thin range against the US dollar, lacking clear direction. The Rupee closed at 54.51 in spot markets on Friday, largely unchanged to its earlier close.

India's Index of Industrial Production (IIP) grew 0.6% in February, as against 2.4% in the earlier month. The February growth was marginally positive as against market expectations of around -1.7%. Another set of data indicated that the Consumer Price Index (CPI) increased 10.39% in March, low er than 10.91% in February. Despite marginal contraction, the CPI index continued to remain in double-digits for a fourth consecutive month.

The Euro fell on Friday on speculation that the Cyprus President will ask for more financial assistance from the European Union (EU). How ever, there were unconfirmed reports later that the already sanctioned loan of 10 billion Euros would not be negotiated again. The Euro currency witnessed a volatile session, but managed to pare some losses in the US session.

Data released by the Eurostat on Friday indicated that Industrial Production in the Euro zone increased 0.4% in the month of February, slightly higher than market-estimates of 0.3%. But the January figure was revised lower to -0.6% as against previously reported -0.4%.

Source : Equity Bulls

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