Rupee extends losses; oil demand hurts
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)
- Tweet this
- Share this
- Digg this
- CEO in apparent suicide was bitcoin fan, had other issues, too
- Man called Bitcoin's father denies ties, leads LA car chase
- Singapore's megachurches move to export lucrative religion
- Kremlin aide warns U.S. of response if sanctions imposed - RIA
- Exclusive - Pimco's Gross declares El-Erian is 'trying to undermine me'
The BSE Sensex and Nifty rose to hit a record high, after foreign investors' buying of shares in the previous day was the biggest so far this year. Full Article