Rupee falls on oil bids

Mon Jan 21, 2013 11:22am IST

Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files

Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012.

Credit: Reuters/Vivek Prakash/Files

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Reuters Market Eye - Rupee trading lower at 53.86/8650, off 53.63 highs, and vs 53.71/72 last close.

Dealers say oil bids at lower levels pushing pair higher, local shares also off highs, some short-covering also seen.

Pair has immediate resistance at 54-54.05 backed by 54.25-30.

(Reporting by Subhadip Sircar)

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