MUMBAI, Feb 28 (Reuters) - The rupee climbed on Thursday with
the prospect of further U.S. rate cuts weighing on the dollar,
but dealers remained cautious about central bank intervention
against the local unit.
* At 9:15 a.m., the rupee <INR=IN> was at 39.747/757,
inching up from the previous close of 39.78/79. It fell to a
five-month low of 40.25 last week.
* The dollar hovered near record lows versus the euro as a
sharp drop in durable goods orders and home sales fueled
recession concerns, while Federal Reserve Chairman Ben Bernanke
signalled a readiness to cut interest rates again. See [USD/].
* Dealers expected the rupee to be capped by demand for
dollars from oil companies, as they typically step up their
purchases of the U.S. currency at month-end to make overseas
payments.
(Reporting by C.J. Kurrien, editing by Prem Udayabhanu)
((Reuters Messaging: [email protected],
91-22-6636 9037))
Keywords: MARKETS INDIA RUPEE/