Rupee lower as oil importers buy dollars

The rupee is trading at 60.34/35 versus its Thursday's close of 60.29/30 on the back of dollar demand from oil importers.

Traders say good dollar selling from a couple of foreign banks has helped limit a further sharp rise in the pair. The pair is seen holding in a tight range of 60.20 to 60.40 during the session.

Slight gains in the domestic sharemarket are also limiting a further upside to the pair.

Most emerging Asian currencies eased on Monday as the dollar stayed firm after upbeat US economic data and on caution over tensions in Ukraine, while trading in the region was subdued with some global markets still closed for the Easter holiday.