Rupee lower; large state-run banks buying dollars

Tags: Rupee, News
The rupee falls to 60.27/28 from its Wednesday close of 60.14/15, as state-run banks are spotted buying dollars, which traders say is likely for defence and oil-related payments.

Gains in USD/INR come despite positive stocks, with the Sensex up 0.2 percent.

The gap between the spot USD/INR and one-month NDF has widened to around 0.45 rupee on Thursday, much higher than the usual 0.20-.025 rupee spread, suggesting offshore players expect the dollar to gain against the rupee in the near-term.

Asian shares look to extend recent solid gains on Thursday after minutes of the Federal Reserve's latest policy meeting suggested the Fed may be more cautious towards raising interest rates than markets had thought.


  • Listing of exchanges, shareholder right will boost market fundamentals

    Capital market regulator Securities and Exchanges Board of India (Sebi) announced a milestone change in the Indian capital market at its Monday board


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Sachin Shridhar

Pay well and ask no more

Well, the 7th pay co­mmission has done the obvious. One ...

Kuruvilla Pandikattu

Children, religion and altruism

It is assumed that religious families foster selflessness a­nd love ...

Dharmendra Khandal

For a lark, let's do something serious finally

It’s a sight to behold. As you drive through a ...


William D. Green

Chairman & CEO, Accenture