Rupee continues to fall; weak shares hurt

Losses in other Asian units are also hurting the rupee

<a href="http://www.shutterstock.com/pic-145704104/stock-photo-indian-currency-rupees-and-coins.html?src=p5N32CFr8-mqwY5wKad6IA-1-63" target="_blank"> Rupee image </a> via Shutterstock.com
Reuters
Last Updated : Sep 05 2014 | 3:11 PM IST
The rupee is trading at 60.43/44 versus its previous close of 60.3550/3650.
 
The USD/INR pair is sustaining gains despite monetary stimulus by the ECB as most funding in India remains dollar denominated, say traders.
 
Losses in other Asian currencies and the euro versus the greenback are also hurting the Indian unit.
 

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The European Central Bank cut interest rates and launched a large stimulus package for the flagging euro zone economy on Thursday.
 
Losses in the share market are also hurting. The Nifty is trading down 0.32%.
 
Traders are now awaiting US nonfarm payrolls data due later on Friday for further direction.
 
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First Published: Sep 05 2014 | 12:52 PM IST

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