Rupee continues to fall; weak shares hurt

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Reuters
Last Updated : Sep 05 2014 | 1:05 PM IST

Reuters Market Eye - The rupee is trading at 60.43/44 versus its previous close of 60.3550/3650.

The USD/INR pair is sustaining gains despite monetary stimulus by the ECB as most funding in India remains dollar denominated, say traders.

Losses in other Asian currencies and the euro versus the greenback also hurting the Indian unit.

The European Central Bank cut interest rates and launched a large stimulus package for the flagging euro zone economy on Thursday.

Losses in the share market also hurt. The Nifty trading down 0.32 percent.

Traders now awaiting U.S. nonfarm payrolls data due later on Friday for further direction.

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(Reporting by Swati Bhat)

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First Published: Sep 05 2014 | 12:52 PM IST

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