Rupee falls to near one-month low

Tue Feb 12, 2013 9:56am IST

An employee uses checks currency note at a cash counter inside a bank in Mumbai June 21, 2010. REUTERS/Rupak de Chowdhuri/Files

An employee uses checks currency note at a cash counter inside a bank in Mumbai June 21, 2010.

Credit: Reuters/Rupak de Chowdhuri/Files

Related Topics

Reuters Market Eye - The rupee edges down to 53.94/95 versus its Monday's close of 53.8450/8550 but key resistance met at 54.01 levels, prompting some pullback. 54.01 is the strongest since January 18.

USD/INR testing major resistance at 53.90-54.05, which has been a rebound high for 7 trading days between January 21-29 and a 38.2 percent retracement of the 55.89 (26th Nov) and 52.87 (5th Feb) decline.

Dealers say dollar demand seen from gold and oil importers.

Factory output at 11 a.m. eyed for immediate cues. Resistance expected to hold until the data with further gains towards 54.25 likely if data disappoints and pair holding above 53.85 levels until then.

(Reporting by Swati Bhat)

FILED UNDER:
  • Most Popular
  • Most Shared

DEFENCE

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

 Hindu "Modi-fication"

Hindu "Modi-fication"

Fears grow about Hindu "Modi-fication" of education  Full Article 

Weak Credit

Weak Credit

Hard to hit tax revenue target, credit weak - Jaitley  Full Article 

China Rate Cut

China Rate Cut

China surprises with interest rate cut to spur growth  Full Article 

Gold Imports

Gold Imports

RBI cautious on response to gold import surge  Full Article 

Economic Corridor

Economic Corridor

China commits $45.6 billion for economic corridor with Pakistan  Full Article 

Overseas Funds

Overseas Funds

RBI says overseas borrowed funds can be parked with banks in India  Full Article 

Reuters India Mobile

Reuters India Mobile

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