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Rupee loses due to dollar demand from importers
May 30, 2013 / 4:37 AM / 4 years ago

Rupee loses due to dollar demand from importers

Reuters Market Eye - The rupee falls to 56.24/25 versus its close of 56.17/18 on Wednesday, tracking a drop in the euro and on the back of heavy dollar demand from importers to meet month-end commitments.

An employee arranges Indian currency notes at a cash counter inside a bank in Agartala February 18, 2010. REUTERS/Jayanta Dey/Files

Traders say oil firms are among the major buyers of the greenback so far on Thursday.

The euro trading at $1.2966, down from the session’s high of $1.2985. The Sensex is trading flat.

Traders, however, expect the upside for the pair to be capped at 56.35-40 levels for the day as exporters are expected to step in to sell the greenback around those levels.

Reporting by Swati Bhat

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