Rupee edges up on day; foreign banks sell dollars

Thu Nov 15, 2012 4:19pm IST

A shopkeeper counts currency notes inside his shop in Jammu July 14, 2010. REUTERS/Mukesh Gupta/Files

A shopkeeper counts currency notes inside his shop in Jammu July 14, 2010.

Credit: Reuters/Mukesh Gupta/Files

Related Topics

Stocks

   

Reuters Market Eye - The rupee rose to 54.78/79 versus its previous close of 54.88/89, and well off a session low at 55.08, as foreign banks continue to sell dollars.

Traders attribute the flows to bunched-up dollar demand as domestic markets were closed for local holidays on Tuesday and Wednesday.

A slight recovery in the euro, after hitting its lowest against the dollar in two months on Tuesday, also pressured the USD/INR cross.

Dollar demand from oil importers, however, is limiting more downside in the pair, dealers say.

The Sensex fell 0.79 percent, marking a two-week closing low after falling for five consecutive sessions.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Literary Giant Dies

Literary Giant Dies

Nobel winner Garcia Marquez, master of magical realism, dies at 87.  Full Article 

Election 2014

Election 2014

India holds biggest day of voting with BJP gaining strength  Full Article | Full Coverage 

Insider Trading

Insider Trading

Ex-Goldman director Gupta starts prison term on June 17.  Full Article 

Market Eye

Market Eye

Sensex jumps 351 points, snaps 3-day losing streak  Full Article 

Expansion Plans

Expansion Plans

Reliance Industries, HPCL Mittal plan refinery expansions.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage