Rupee at day's high on euro gains

Mon May 7, 2012 2:03pm IST

An employee uses an electronic machine to check a currency note inside a bank in Allahabad December 16, 2011. REUTERS/Jitendra Prakash/Files

An employee uses an electronic machine to check a currency note inside a bank in Allahabad December 16, 2011.

Credit: Reuters/Jitendra Prakash/Files

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Reuters Market Eye - The USD/INR at day's low, now at 53.24/35 vs 53.47/48 last close, after the euro recovers from prior falls. RBI is believed to have sold dollars in the morning, according to four dealers.

Exporters' stop losses at 53.50 were triggered after RBI's intervention talk, magnifying the losses in USD/INR, dealers said.

Euro now trading at $1.3011/15 after earlier hitting a three-month low at $1.2955.

Local stocks now down 1.3 percent after falling as much as 1.9 percent.

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