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.

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E-mail ID will not be published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

  • Neither secular nor socialist, India at 66 is back where it began

    The republic has entered its 66th year but the nation is more than just another year older.

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

Arun Kumar Jain

Building great cities (and nations)

Fifteen to twenty years’ span is the time when humans ...

Kuruvilla Pandikattu SJ

Defining success differently

Researchers spent four decades studying a group of mathematically talented ...

Shona Adhikari

All roads lead to Delhi, as it gears up for art fair

With the seventh edition of India Art Fair (IAF) coming ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture