Forex News: USD/INR extends losses on back of overnight drop in crude oil prices, local stock markets in green also helps INR gains; pair now at 43.12 vs 43.15 earlier, 43.23 last close. Dealer with private bank tips 43.10-43.20 band rest of session. "Despite the rupee's gains today, there is not much conviction in buying the currency due to political uncertainty, the local currency downgrade warning by Fitch yesterday and overall weak rupee sentiment," says dealer. Notes markets now waiting to see fate of federal government, which has to prove majority in parliament. "The rupee may rally if the government survives, but we will have to wait and see what happens."
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