Rupee extends losses; oil demand hurts

Wed Jan 16, 2013 12:55pm 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

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Reuters Market Eye - The rupee extends losses to 54.83/84 versus its previous close of 54.6150/6250 on the back of dollar demand from oil firms, along with some short-covering.

Weakness in regional and local shares also aiding sentiment for the dollar.

Dealers expect exporters to step in to sell the greenback around 54.90-95 levels, preventing a sharper rise beyond that.

(Reporting by Swati Bhat)

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