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Rupee down tracking Asians

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Reuters
Last Updated : May 17 2013 | 10:05 AM IST

Reuters Market Eye - The rupee falls to 54.90/91 versus its close of 54.7750/7850 on Thursday as gains in the dollar versus major currencies and other Asians offset the positive opening in domestic shares.

The U.S. dollar held firm near a 10-month high against a basket of major currencies after a regional Fed chief, long seen as a policy dove, said the Fed could begin easing up on stimulus this summer and end it late this year.

Most Asian currencies are trading weaker compared with the dollar.

The USD/INR pair is seen moving in a 54.70 to 55.10 range during the session with exporters expected to step in to sell around 55-55.05 levels.

(Reporting by Swati Bhat)

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First Published: May 17 2013 | 9:49 AM IST

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