Rupee moves back to day's low

Reuters Market Eye - The rupee off highs as local stocks give up most gains, some corporate outflows seen, say dealers. The pair is at 60.85/86, off 60.48 lows. It had closed at 60.40/41 on Wednesday.

Small outflow seen from a state-run gas utility, which dealers peg around $50 million.

The RBI was rumoured intervening early in session, keeping a leash on INR losses.

RBI chief D. Subbarao says balance of payments is under stress.

Local stocks off highs, up 0.26 percent.

(Reporting by Subhadip Sircar)