Rupee falls on month-end dollar demand from importers

Dollar holds near 8-week high against basket of major currencies

<a href = "http://www.shutterstock.com/pic-107807486/stock-photo-image-showing-folded-indian-notes-of-rs.html?src=p5N32CFr8-mqwY5wKad6IA-1-21" target="_blank"> Rupees image </a> via Shutterstock.com
Reuters
Last Updated : May 28 2014 | 10:57 AM IST

The rupee is trading at 59.15/16 versus its previous close of 59.04/05 on the back of heavy month-end dollar demand from importers, particularly oil firms.

The US dollar too held near an eight-week peak against a basket of major currencies early on Wednesday, having edged up on the back of encouraging US data and another record high on Wall Street.

The BSE Sensex is trading up 0.11%.

The rupee is seen holding in a 59.00 to 59.40 range during the session.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 28 2014 | 10:03 AM IST

Next Story