On Tuesday Ruppee rose to its highest in two weeks as shares followed gains in Asian stock markets, will result in more foreign money entering the market. Dealers said that oil prices hike could temper gains.
Dealers said they would be watching the government's updated budget closely for cues on more reform measures, which could lead to more capital inflows. The updated budget for 2009/10 will be unveiled on Monday.
India imports around 70 percent of its oil requirements and the refiners are the biggest buyers of dollars. A rise in global prices raises concerns of a widening trade deficit and inflation.
Dealers said they would be watching the government's updated budget closely for cues on more reform measures, which could lead to more capital inflows. The updated budget for 2009/10 will be unveiled on Monday.
India imports around 70 percent of its oil requirements and the refiners are the biggest buyers of dollars. A rise in global prices raises concerns of a widening trade deficit and inflation.
Source url: http://in.reuters.com/article/businessNews/idINIndia-40690520090630