February 5, 2013 / 4:17 AM / in 5 years

Rupee keeps losses as stocks fall

Reuters Market Eye - The rupee keeping losses as local stocks remain in red, oil buying supports, say dealers. Pair at 53.34/35 vs 53.285/295 last close. It has traded in a 53.2050-53.42 band.

A man uses an electronic machine to check an Indian currency note at a money exchange shop in Siliguri February 5, 2008. REUTERS/Rupak De Chowdhuri/Files

Pair earlier fell to a low of 53.2050, which dealers say was largely due to selling by a private petrochem company.

Dealers cite good two-way interest with some flow-related selling and subsequent oil buying.

Some selling may come in if pair rises to 53.45-53.48 levels, adds dealer.

Reporting by Subhadip Sircar

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