Rupee at new 1-wk lows as stocks seen lower

Mumbai, Nov 20: The rupee fell to new one-week lows in opening trade on Friday weighed by expectations of a weak start to the local sharemarket and continued strength of the dollar versus major units.

* At 9:05 a.m. the partially convertible rupee was at 46.69/70 per dollar, off a low of 46.75, its weakest since Nov. 13 and marginally below its previous close of 46.6850/6950.

* The dollar and yen kept their broad strength on Friday as investors continued to sell higher-yielding currencies and took profits from gains made in the past few months in risky assets.

* Traders said they would be watching the domestic sharemarket open for cues on capital flows, which have been a key influence on the currency in recent years.

* At 0335 GMT, the MSCI index of Asian stocks ex-Japan was down 0.7 percent while the Nifty India stock futures traded in Singapore dropped 0.6 percent, both suggesting a lower open in the local market.

–Agencies