RTRS: Indian rupee rangebound; stocks offset weak dollar
MUMBAI, Dec 18 (Reuters) - The Indian rupee traded in a narrow range on Friday as a weaker local stock market offset support from a weaker dollar overseas.
* At 3:20 p.m.,the partially convertible rupee INR=IN was at 46.85/86 per dollar, having traded in the 46.79/92 range throughout the day. It had closed at 46.88/89 ion Thursday.
* Indian shares were down 0.95 percent, with energy giant Reliance Industries (RELI.BO: Quote, Profile, Research) and IT bellwether Infosys Technologies (INFY.BO: Quote, Profile, Research) leading the fall.
* The dollar stayed pressured, and the index of the dollar .DXY against six majors was down 0.25 percent.
* Dealers said the Indian currency is likely to stay stronger than 47 per dollar on Friday, with dealers watching for any action or hawkish comments from the central bank or finance ministry after their meeting on Friday evening. [ID:nSGE5BH06F]
* One-month offshore non-deliverable forward contracts PNDF were quoted at 46.91/47.01, pricing in a slightly weaker rupee than the spot rate. (Reporting by Jeanette Rodrigues; Editing by Prem Udayabhanu)
