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)
Trending On Reuters
The BSE Sensex posted its worst monthly fall in more than two years, raising concerns a strong rally that saw indexes surge in the fiscal year was waning due to concerns about stock valuations and a more gradual economic growth. Full Article