Rupee off highs in afternoon trade
Dealers say a large petrochemical company bought dollars
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<a href = "http://www.shutterstock.com/pic-107807486/stock-photo-image-showing-folded-indian-notes-of-rs.html?src=p5N32CFr8-mqwY5wKad6IA-1-21" target="_blank"> Rupees image </a> via Shutterstock.com
The rupee is off its highs as a large petrochemical company bought dollars, dealers say.
The pair is 61.93/94 versus Wednesday's close of 61.90/91 after dropping to 61.7450.
The pair is still trading below the 100-day moving average.
Shares are up 0.7%.
The dollar hovered near a five-year high versus the yen on Thursday, with the focus on the forthcoming US data to see if it will support the case for the Federal Reserve to gradually scale back its bond-buying stimulus over the course of 2014.
The pair is 61.93/94 versus Wednesday's close of 61.90/91 after dropping to 61.7450.
The pair is still trading below the 100-day moving average.
Shares are up 0.7%.
The dollar hovered near a five-year high versus the yen on Thursday, with the focus on the forthcoming US data to see if it will support the case for the Federal Reserve to gradually scale back its bond-buying stimulus over the course of 2014.
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First Published: Jan 02 2014 | 1:37 PM IST