Rupee Edges Marginally Higher

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December 4, 2012 3:22 PM EST

Rupee inches marginally higher to 54.75/76 versus its previous close of 54.77/78 as some profit-taking is happening in the dollar after the sharp rise seen in the previous session.

Trading however is expected to be choppy ahead of the crucial vote on foreign direct investment in multi-brand retail due on Wednesday afternoon which will be a critical determinant of the rupee's direction in the medium term.

Traders will watch the domestic sharemarket movement for direction during the day. Shares trading down 0.15 percent in opening deals.

Asian currencies trading mixed versus the dollar.

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Copyright 2012 Thomson Reuters. All rights reserved.

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