Rupee off 5-month lows as euro gains

Foreign banks spotted selling the greenback

The rupee was trading at 61.34/35 after hitting 61.74 earlier, its weakest since March 5, but still weaker than Thursday's close of 61.22/23.

 

Gains in the euro and other majors versus the dollar aided sentiment for the pair. The index of the dollar versus six majors was down 0.16%.

 

Traders said foreign banks were spotted selling the greenback, causing the rise from session lows.

 

The pair is seen holding in 61.20 to 61.60 range during rest of the session.

 

Losses in Sensex are seen preventing further fall in the pair. Nifty was down 1.1%.