Rupee marginally up in early trade .

Mumbai: The Indian rupee on Friday opened higher against the US dollar from its last close and is trading marginally up.
The partially convertible rupee opened at 53.91 against Thursday’s close of 53.93, or down 0.21%.

At 9.28am, the local unit was trading at 53.8862, or up 0.08%, from previous close.

The rupee saw short positions build up for the first time this year after preliminary data last week showed the economy likely grew at a meagre 5% pace this fiscal year.

Asian currencies were mixed; the Korean won advanced, while the Malaysian ringgit and Singapore dollar dipped.

The euro nursed heavy losses on Friday in the wake of data showing the euro zone had slipped deeper into recession late last year, while markets braced for more conflicting comments on currencies as the Group of 20 officials meet in Moscow.


Source : livemint.com