Rupee edges up on corporate dollar inflows

Tags: Rupee, News
The rupee is trading at 58.88/89 versus its previous close of 58.93/94 on the back of some continued dollar inflows but losses in the euro versus the greenback and weaker local shares are expected to limit a sharper downside to the USD/INR pair.

The BSE Sensex trading down 0.32 percent in early trade and will be watched for cues on foreign fund flows.

The U.S. dollar hovered at a two-month high against a basket of major currencies early in Asia on Thursday, having benefited from a shake out of long positions in sterling and further weakness in the euro.

Budget expectations would drive the markets in near term with traders expecting a range of 58.70 to 59.20 for the day.

Month-end dollar demand from importers is also expected to hurt the rupee.

Asian currencies trading mixed compared to the dollar.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Investigating a crime after three decades is little more than a gimmick

    That communal riots and their aftermath are the easiest stick to beat any opposition with, and have tremendous emotive and therefore vote-catching abi

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schoettli

It’s time for Japan to step out of its shell

The execution of a Japanese hostage by ISIS has sho­cked ...

Zehra Naqvi

The urge to tell stories

One wants to tell a story, like Scheherzade, in order ...

Bubbles Sabharwal

Truth about truth

The question to ponder is, “is it the truth because ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture