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.

EDITORIAL OF THE DAY

  • Trade policies must not ring fence specific industry sectors

    Within days of the government setting a floor price for import of steel products to thwart countries such as China from undercutting local mills, gove

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Kumar Jain

Reframe mindset to achieve excellence

Niels Bohr, the famous quantum physicist on­ce said, “The opposite ...

Kuruvilla Pandikattu

More real than the reality

Virtual reality (VR), a te­chnology that offers an un­imaginably altered ...

Dharmendra Khandal

Urbanisation is costing us our wildlife

The road transport and highways minister Nitin Gadkari aims to ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture