Rupee weakens past 61/dollar to 1-month low
Hurt by good demand for the greenback from oil importers
)
<a href="http://www.shutterstock.com/pic-49498450/stock-photo-background-created-with-indian-rupee-notes.html" target="_blank">Gold</a> image via Shutterstock
The rupee is trading at 61.06/07 versus its previous close of 60.76/77 as dollar demand from oil firms and weakness in other regional currencies helped the greenback.
The rupee fell as low as 61.0825, its weakest since March 21, before a further downside was capped by dollar selling by exporters at around 61.05-61.10 levels. The pair is seen holding in a 60.80 to 61.20 range in the rest of the session.
Gains in the domestic sharemarket are also limiting a further upside to the pair. The BSE Sensex is trading up 0.6% currently and will be watched for clues on foreign fund flows.
The rupee fell as low as 61.0825, its weakest since March 21, before a further downside was capped by dollar selling by exporters at around 61.05-61.10 levels. The pair is seen holding in a 60.80 to 61.20 range in the rest of the session.
Gains in the domestic sharemarket are also limiting a further upside to the pair. The BSE Sensex is trading up 0.6% currently and will be watched for clues on foreign fund flows.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Apr 23 2014 | 12:46 PM IST