Rupee likely down on global dollar rally

Likely to lose for 2nd straight session as Asian stocks fall, global dollar gains, pair last closed at 55.62/63

Rupee is likely to lose for a second straight session as Asian stocks fall, global dollar gains. Pair last closed at 55.62/63.

USD/INR 1-month NDF at 55.91 as against NY close at 55.63-67. Asian stocks trading with cuts with MSCI's Asia ex-Japan index down 1.2%, Nifty futures in Singapore down 0.6%

The dollar stood close to a two-year high against a basket of major currencies on Thursday in Asia, having pushed the euro to a two-year low after minutes from a Federal Reserve meeting showed more monetary easing was not on the cards for now.