Rupee lower; month-end dollar demand weighs

Tags: News
The rupee is trading lower at 62.06/07 per dollar versus close of 61.98/99 on Wednesday.

Month-end dollar demand from importers is likely to keep the USD/INR pair bid.

"Euro and other majors are lower compared to our Wednesday close," says senior dealer.

On watch: India will release the fiscal deficit figures for April-January period at 4 p.m. and GDP data for Oct-Dec quarter at 5.30 p.m.

The dollar held steady against the yen and the euro on Friday, after a surge in U.S. equities confirmed investor appetite for risk and helped the currency recoup some of the losses suffered earlier on geopolitical concerns.

Asian stocks managed to shrug off early losses on Friday and push higher, inspired by gains on Wall Street after U.S. Federal Reserve Chair Janet Yellen's comments underscored her confidence in the U.S. economy.

EDITORIAL OF THE DAY

  • Mergers apart, Sebi must also allow fund houses to offer diverse products

    The Securities and Exchange Board of India’s (Sebi’s) reported push for merger of open-ended mutual fund schemes is a logical step, as there is li

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Nigavekar

Can Hefa actually become a reality?

The ministry of human resource development (MHRD) is actively wo­rking ...

Rajgopal Nidamboor

Creativity is that divine luminosity

Creativity or ingenuity, isn’t a licence limited to ‘functioning’ minds ...

Dharmendra Khandal

No one's getting rich overnight by poaching

We often read in newspapers that tiger skin worth Rs ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture