Rupee headed for third week of losses

Image
Reuters Delhi, India
Last Updated : Feb 22 2013 | 9:50 AM IST

Reuters Market Eye - The rupee opens lower at 54.51/52 versus its close of 54.47/48.

Rupee headed for third week of losses.

Pair tipped in 54.30-54.75 band for session.

Dealers, however, expect some bunched-up dollar sales from state-run banks, which have largely been absent in the market for the past two sessions due to a strike.

The dollar bustled near a 5-1/2-month high against a basket of currencies on Friday, on doubts over just how long the U.S. Federal Reserve will keep its quantitative easing in place.

Asian currencies mixed.

(Reporting by Subhadip Sircar)

*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: Feb 22 2013 | 9:39 AM IST

Next Story