The currency fell after the May IIP data
Domestic stocks and emerging Asian FX gain after China posted GDP in line with expectations
Imports fell sharply in June, partly because of lower global oil prices
Traders cite caution as core inflation remains unchanged at around 4.85%
Sustained capital inflow from foreign funds into equity market boosted the rupee
INDIA-RUPEE-DOLLAR:Rupee off highs as oil firms buy dollars
Markets are hoping for any hints of potential US monetary easing steps
Traders however say they expect resistance for the dollar around 55.35 levels
Private sector banks will be able to grow their business at the cost of public sector banks
Traders said dollar demand from oil firms and defence companies also weighed on the rupee
Traders say dollar demand from oil firms was preventing further falls in the dollar/rupee
Dollar's gains in overseas mkts, outflow of foreign funds from domestic equity mkt influence rupee sentiment
Investors are also eyeing any possible policy reforms from the government after the presidential election results are out
High current account deficit, policy inaction and high fiscal deficit are the reasons
Strengthening of dollar overseas on concerns over Spain's borrowing costs weigh on rupee sentiment