Reuters Market Eye - The rupee extends losses to 54.83/84 versus its previous close of 54.6150/6250 on the back of dollar demand from oil firms, along with some short-covering.
Weakness in regional and local shares also aiding sentiment for the dollar.
Dealers expect exporters to step in to sell the greenback around 54.90-95 levels, preventing a sharper rise beyond that.
(Reporting by Swati Bhat)
Trending On Reuters
Plans by India's coal monopoly to buy billions of dollars of new machinery and outsource work are facing resistance from powerful unions worried about job losses, in potential blow to Prime Minister Modi's promise to bring electricity to all. Read