Rupee higher; dealers cut long dollar bets

Fri Feb 15, 2013 10:27am IST

A shopkeeper counts currency notes inside his shop in Jammu July 14, 2010. REUTERS/Mukesh Gupta/Files

A shopkeeper counts currency notes inside his shop in Jammu July 14, 2010.

Credit: Reuters/Mukesh Gupta/Files

Related Topics

Reuters Market Eye - The rupee is marginally higher after opening flat on position adjustment, say dealers. Pair at 53.86/87 versus 53.92/93 Thursday's close.

"The market went long yesterday after watching euro. But with USD/INR opening flat, so that has led to some selling," says a foreign bank dealer.

Asian currencies mixed; won advances, while ringgit, Singapore dollar dip.

Euro nursed heavy losses on Friday in the wake of data showing the euro zone slipped deeper into recession late last year, while markets braced for more conflicting comments on currencies as G20 officials meet in Moscow.

The rupee saw short positions build up for the first time this year after preliminary data last week showed the economy likely grew at a meagre 5 percent pace this fiscal year.

(Reporting by Subhadip Sircar)

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

Trade Deal

REUTERS SHOWCASE

Facebook Results

Facebook Results

Facebook beats Wall Street targets, stock hits record high  Full Article 

Gm Recall

Gm Recall

GM recalls 717,950 vehicles in U.S., not for ignition switches  Full Article 

Factory Sector

Factory Sector

China July HSBC flash PMI at 18-month high of 52.0   Full Article 

Breakingviews

Breakingviews

Apple winds up earnings hope for new gadgets  Full Article 

BRICS Bank

BRICS Bank

World Bank chief welcomes new BRICS development bank.  Full Article 

Streamlining Operations

Jet Streamlines

Jet Airways chairman says looking to restructure debts, talking to bankers  Full Article 

Political Economy

Political Economy

Analysis - Watch what markets don't do as world politics turns nasty   Full Article 

Honda's India Thrust

Honda's India Thrust

Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec   Full Article 

 Boosting Output

Boosting Output

NMDC plans to boost iron ore output by two-thirds  Full Article 

Reuters India Mobile

Reuters India Mobile

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