Rupee lower; large state-run banks buying dollars
Apr 10 2014 , Mumbai
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.