 "Rupee trades lower on dollar demand by state-run banks")
The rupee is trading at 61.09/10 versus its last close of 60.94/95 on continued dollar demand from state-run banks.
Traders say state-run banks were spotted buying dollars likely on behalf of the government for defence-related payments.
A turnaround in the domestic sharemarket, however, is limiting further losses in the rupee. The BSE Sensex is trading up 0.2% after having been down through most of the session so far.
Asian stocks fell on Wednesday as economic uncertainty in China and the United States combined with political tensions in Ukraine kept investors cautious and commodities under a dark cloud.
Traders say state-run banks were spotted buying dollars likely on behalf of the government for defence-related payments.
A turnaround in the domestic sharemarket, however, is limiting further losses in the rupee. The BSE Sensex is trading up 0.2% after having been down through most of the session so far.
Asian stocks fell on Wednesday as economic uncertainty in China and the United States combined with political tensions in Ukraine kept investors cautious and commodities under a dark cloud.
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