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E-mail ID will not be published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

  • E-auction and eventual privatisation of coal industry are welcome steps

    The government’s decision to privatise the scam-ridden coal industry through a presidential ordinance will eventually end the monopoly of public sec

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

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Rajgopal Nidamboor

Synchronous balance is vital for one and all

Imagine that you are playing an electronic game, or actually ...

Shona Adhikari

When women to birds become a painter’s muses

This week the focus is on renowned artist Amitabha Banerjee, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture