Rupee off highs; large corporate buyer of dollars

Reuters Market Eye - 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 keeping gains, up 0.7 percent.

The dollar hovered near a five-year high versus the yen on Thursday, with the focus on whether forthcoming U.S. data will support the case for the Federal Reserve to gradually scale back its bond-buying stimulus over the course of 2014.

(Reporting by Subhadip Sircar)