Rupee lower; rumoured government-related buying
Reuters Market Eye - The rupee is off highs, falls on rumoured buying by a large state-run bank on behalf of the government, say dealers. The pair is at 54.63/64, off 54.40 lows, versus its last close at 54.56/57.
Senior dealer says given the weak rupee fundamentals, importers are seen in a hurry to cover 1-3 months imports after seeing spot trade above 55.35 this week.
November factory data shows minor contraction in activity, also capping rupee gains. (To read full story, click here)
(Reporting by Subhadip Sircar)
- Tweet this
- Share this
- Digg this
- UPDATE 1-Putin foe Khodorkovsky says Russia is lying about Ukraine
- Missing Malaysian jet may have disintegrated in mid-air - source
- UPDATE 2-Interpol probes more suspect passports from missing flight
- UPDATE 3-Putin defends Crimea's decision to hold referendum
- UPDATE 4-William Clay Ford Sr., grandson of pioneer automaker, dies at 88
Officials investigating the disappearance of a Malaysia Airlines jetliner with 239 people on board suspect it may have disintegrated in mid-flight, a senior source said on Sunday, as Vietnam reported a possible sighting of wreckage from the plane. Article | Exclusive