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
- Bangalore-bound Malaysian plane lands safely after landing gear scare
- Calls to U.S. poison centers involving e-cigarettes jump - CDC
- India passes halfway mark in election with BJP gaining strength
- UPDATE 1-Saudi Arabia announces jump in new cases of deadly MERS virus
- Mercedes, BMW chase ultra rich clients with new high end cars