Rupee falls from 3-1/2 month high
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)
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
Barack Obama in India
In a glow of bonhomie, U.S. President Barack Obama and Indian Prime Minister Narendra Modi announced a breakthrough on nuclear trade on Sunday, a step that both sides hope will help establish an enduring strategic partnership. Full Article
Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll. Full Article