Rupee falls as oil cos buy dollars

Strong domestic equities cap losses

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 are stronger due to gains in blue-chips such as Larsen & Toubro after earnings, while financial stocks extended 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.