Rupee seen edging up tracking Asians; outflows to hurt

The rupee is expected to inch up in early trade on Monday, tracking firm Asian peers, with the performance of local shares seen providing further direction during the day.

* The index of the dollar against six major currencies was up 0.1 percent at 74.069 points, marginally below 74.076 points when the domestic forex market closed on Thursday.

* Domestic forex and bond markets were shut on Friday for a local holiday. The partially convertible rupee had ended at 45.735/745 per dollar on Thursday, 0.7 percent weaker than its 45.4050/4150 close on Wednesday. It had touched a low of 45.7525 during the session, its weakest since Feb. 11.

* Traders said bunched up dollar outflows after the holiday could also weigh on the rupee.

* The MSCI index of Asian stocks ex-Japan was up 0.4 percent while the Nifty India stock futures traded in Singapore were marginally higher, suggesting a flat opening in the local market.

* Traders expect a 45.65-45.95 per dollar band for the rupee during the day with likely demand for dollars from oil importers seen limiting any major gains in the local unit, while heavy demand could push it towards 46.