Rupee falls from 3-1/2 month high

Thu Jan 31, 2013 1:34pm IST

People walk past a roadside currency exchange vendor in the old quarters of Delhi May 22, 2012. REUTERS/Adnan Abidi/Files

People walk past a roadside currency exchange vendor in the old quarters of Delhi May 22, 2012.

Credit: Reuters/Adnan Abidi/Files

Related Topics

Reuters Market Eye - The rupee is trading at 53.36/37 versus its previous close of 53.30/31, falling sharply from the day's high of 53.07, which was its strongest since October 18.

Traders say gains in the dollar versus most other Asian currencies seen hurting sentiment for the rupee.

Month-end dollar demand from oil firms also adding to the upward pressure on the dollar/rupee.

The BSE Sensex trading down 0.4 percent, boosting the pair further.

Traders, however, expect the upside for the USD/INR to be capped on expectations of more dollar supplies in the near-term as the government looks to dilute its stake in some state-run firms in early February.

(Reporting by Swati Bhat)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Market Eye

REUTERS SHOWCASE

Segway in India

Segway in India

Segway’s India business pegs hope on tech-savvy Modi  Full Article 

Cipla Shares

Cipla Shares

Cipla jumps after key generic launch.  Full Article 

Modi in Japan

Modi in Japan

Japan and India agree to boost strategic ties at summit.  Full Article 

Basel III Norms

Basel III Norms

RBI amends Basel III guidelines for banks.  Full Article 

Antitrust Probes

Antitrust Probes

U.S. business lobby says concerned China antitrust probes unfair.  Full Article 

Current Account

Current Account

Balance of payments surplus for third straight quarter.  Full Article 

Book Talk

Book Talk

Reema Abbasi and a glimpse of Pakistan’s Hindu past.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage