Rupee falls on oil demand, buying by state-run banks
Reuters Market Eye - The rupee falls as importer demand kicks in, led by oil-related dollar buying, say dealers. The rupee is at 53.78/79, off 53.655 highs, versus 53.81/82 last close.
Demand from state-run banks also helping pair, add dealers.
RBI's easing exporter rules will also provide some support for pair.
(Reporting by Subhadip Sircar)
- Tweet this
- Share this
- Digg this
Trending On Reuters
India's reform-minded prime minister, Narendra Modi, appears to have passed a major test with a budget that pleased economists and investors with pledges to spend more on modernising India's ageing roads and railways while keeping borrowing in check. Full Article | Full Coverage