Strong surge in dollar overseas kept the rupee under pressure combined with expectations of higher trade deficit data
Traders cite sustained dollar buying from foreign banks
During the week ending Sept 5, reserves fell by $1.33 bn to $317.31 bn
A weak dollar overseas and capital inflows helped the rupee rally for the second straight day
CPI data due post-market hours eyed
At the forex market, the rupee resumed better at 60.87 a dollar and immediately touched a low of 60.9450
It ended at 60.92 per dollar, marginally stronger than its Wednesday's close of 60.94
Is seen in a 60.60 to 61.10 range until close
On a net basis RBI bought $ 5.4 billion dollars compared with $ 587 million in June
Continued dollar demand from importers and some banks weighed on the currency value
Report suggest Federal Reserve could raise interest rates earlier than expected
Weakness in local equities and fresh dollar demand from importers weighed on the rupee
Index of the dollar against six majors is up 0.2%
On Friday the euro weakened to a near 14-month low against the dollar
This is the strongest level since the the currency had settled at 60.06 on July 30, 2014
Says factors supporting the Indian rupee include softening of oil prices, the continuation of gold import curbs and rising FII equity inflows
The pair is seen holding in 60.15-60.35 range
Government bond yields are seen rising from current levels though the rise in yields is not seen significantly