Rupee falls on oil companies dollar demand

Image
Reuters
Last Updated : Jun 02 2014 | 3:05 PM IST

Reuters Market Eye - The rupee is trading at 59.1350/1400 versus its previous close of 59.10/11, as large state-owned banks are spotted buying dollars for oil companies but broader falls are seen capped due to strength in local equities.

Local shares stronger due to gains in blue-chips such as Larsen & Toubro after earnings, while financial stocks extend gains a day ahead of the central bank's policy review.

The pair seen in a range of 59.10 to 59.20 until close.

(Reporting by Neha Dasgupta)

*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: Jun 02 2014 | 2:46 PM IST

Next Story