Rupee weaker on month-end dollar demand
Losses in other Asian currencies also hurt rupee
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The rupee is trading at 62.41/42 versus its previous close of 62.14/15 as month-end dollar demand from oil refiners and losses in other Asian currencies hurt the local unit.
Heavy dollar buying is seen from oil firms, the largest buyers of dollars in the domestic market, to meet month-end import commitments, traders say.
Most Asian currencies also trading weaker compared with the dollar.
Traders expect the USD/INR pair to hold in a 62.25 to 62.55 range for the rest of the session.
Heavy dollar buying is seen from oil firms, the largest buyers of dollars in the domestic market, to meet month-end import commitments, traders say.
Most Asian currencies also trading weaker compared with the dollar.
Traders expect the USD/INR pair to hold in a 62.25 to 62.55 range for the rest of the session.
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First Published: Nov 28 2013 | 3:02 PM IST