 "Rupee falls as state-run banks buy dollars")
The rupee fell to 60.27/28 from its Wednesday close of 60.14/15, as state-run banks were spotted buying dollars, which traders say is likely for defence and oil-related payments.
Gains in USD/INR came despite positive stocks, with the Sensex up 0.2%.
The gap between the spot USD/INR and one-month NDF has widened to around Rs 0.45 on Thursday, much higher than the usual Rs 0.20-.025 spread, suggesting offshore players expect the dollar to gain against the rupee in the near-term.
Asian shares looked to extend recent solid gains on Thursday after minutes of the Federal Reserve's latest policy meeting suggested the Fed may be more cautious towards raising interest rates than markets had thought.
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