Rupee falls marginally after recent gains

Thu Jan 3, 2013 9:39am IST

Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files

Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012.

Credit: Reuters/Vivek Prakash/Files

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Reuters Market Eye - The rupee falls marginally to 54.46/47 versus its previous close of 54.35/36 on the back of some short-covering seen after the recent gains and as oil firms buy the greenback.

The rupee had risen to a three-week high of 54.2650 on Wednesday. Traders expect the pair to hold in a 54.20 to 54.60 range rest of the session.

Traders to watch the domestic share market movement for cues on foreign fund flows during the day. The BSE Sensex is trading up 0.03 percent.

Dollar demand from oil firms, the biggest buyers in the domestic currency market, will also be watched.

(Reporting by Swati Bhat)

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