Business Standard

Rupee lower as importers buy dollars

Weak domestic shares also hurt the rupee

<a href="http://www.shutterstock.com/pic-111991067/stock-photo-dice-on-rupee-coins-on-indian-currency-notes.html" target="_blank">Rupee</a> image via Shutterstock

Reuters

The rupee is trading at 60.29/30 versus its close of 60.1650/1750 on Thursday, tracking weakness in local shares. Dollar demand from importers also hurt.

The unit went as low as 60.3925, the lowest since March 25.

Most other Asian currencies were trading weaker compared with the dollar.

Local shares were trading down 0.5% and will be watched during the day for cues on foreign fund flows, which have been a key factor hurting the pair in recent sessions.

Caution also prevailed ahead of US jobs data due post market close.

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First Published: Apr 04 2014 | 12:51 PM IST

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