Rupee down despite share gains

Mon May 20, 2013 10:05am 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 trading close to 55 levels despite gains in the domestic sharemarket. The rupee is trading at 54.99/55.00 versus its close of 54.88/89.

The rupee fell to as low as 55.07 in opening trade, its lowest since March 4.

Domestic shares trading up 0.8 percent tracking firm Asian indices.

Traders say good dollar buying is likely at 54.95 levels while 55.15 is expected to cap the upside.

"If 55.15 is broken convincingly, we could see it move upto 55.40-50 levels but until then it is safe to play the 54.50 to 55.15 range," said a senior dealer with a foreign bank.

(Reporting by Swati Bhat)

FILED UNDER:

REUTERS SHOWCASE

2015: India Outlook

2015: India Outlook

India in 2014: A dream run for markets  Full Article 

World Stocks

World Stocks

Oil and rouble rally into Christmas period  Full Article 

Flying Back on Course

Flying Back on Course

The inside story of the new Airbus A350 jet  Full Article 

Oil Prices

Oil Prices

Oil rebounds above $62, tracking broader markets  Full Article 

Tracking Gold

Tracking Gold

Gold inches higher on weaker dollar, Asian buying  Full Article 

Cyber Attacks

Cyber Attacks

China condemns cyberattacks, but says no proof N.Korea hacked Sony  Full Article 

Connecting Markets

Connecting Markets

China stock connect scheme scorecard throws up surprises  Full Article 

Reuters India Mobile

Reuters India Mobile

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