India rupee seen steady as dollar, oil pause

Indian rupee may get bit of a lift today as oil prices have retreated and dollar is hanging fire against other majors.

The Indian rupee may get a bit of a lift on Wednesday as oil prices have retreated a little and the dollar is hanging fire against other majors.

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* The rupee closed at 46.70/71 per dollar , after slipping to about 46.82 in early trade on Tuesday, its lowest since June 2003.

* Crude oil was holding just below $74 a barrel in early trade on Wednesday.

* Indian shares <.BSESN> fell 0.7 per cent on Tuesday, triggering worries in the currency market about a slowdown in foreign fund investments. But traders say upbeat results from TCS after the market closed could boost the index.

* Dealers said they will now focus on US inflation data and a testimony by Federal Reserve Chairman Ben Bernanke on Wednesday for clues on the Fed's rate policy.