November 15, 2012 / 5:24 AM / 5 years ago

Rupee edges up on day; foreign banks sell dollars

Reuters Market Eye - The rupee rose to 54.78/79 versus its previous close of 54.88/89, and well off a session low at 55.08, as foreign banks continue to sell dollars.

Traders attribute the flows to bunched-up dollar demand as domestic markets were closed for local holidays on Tuesday and Wednesday.

A slight recovery in the euro, after hitting its lowest against the dollar in two months on Tuesday, also pressured the USD/INR cross.

Dollar demand from oil importers, however, is limiting more downside in the pair, dealers say.

The Sensex fell 0.79 percent, marking a two-week closing low after falling for five consecutive sessions.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below