Rupee lower; RBI suspected to have been buying dollars

Tags: Rupee, News
The rupee is trading at 60.30 per dollar, weaker than its previous close of 60.1650/1750, tracking weakness in local shares and importer dollar demand.

"The central bank is suspected to have been buying dollars in recent sessions to shore up its foreign exchange reserves," said Subramaniam Sharma, director at Greenback Forex Services.

Most other Asian currencies like yuan, peso and baht are trading weaker compared with the dollar.

Local shares will be watched during the day for cues on foreign fund flows, which have been a key factor hurting the pair in recent sessions.

Indian shares retreated from a record-setting rally and as losses accelerated, with importers rushing in to buy dollars.

Caution is also seen prevailing ahead of U.S. jobs data due later in the day.

EDITORIAL OF THE DAY

  • Mental illness needs to be treated not dismissed as madness

    We’re all mad here.” So said the Cheshire cat to Alice (Alice in Wonderland, Lewis Carol). It’s a matter of perspective who we call mad.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Sanskrit: a victim of academic schizophrenia

J Robert Oppenheimer, the father of the atomic bomb and ...

Zehra Naqvi

God save the child

Childhood is supposed to be the best phase in life. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture