MUMBAI: The rupee eased on Friday amid a seesawing stock market and in the face of
the dollar's gains, which dampened overseas sentiment.
At 10:45 a.m. (0515 GMT), the partially convertible rupee was at 48.09/10 per dollar, off an
early low of 48.19, and about 0.3 percent weaker than Thursday's close of 47.95/96.
It had hit 47.74 on Thursday, its highest since June 16.
"Stocks are offering the market no relief. But mostly the rupee's pressured because of the
dollar strengthening in cross currency movements," a trader with a foreign bank, said.
India's main share index seesawed after opening 0.7 percent lower on Friday after Asian
equity markets slipped and investors held back from taking positions ahead of next week's
federal budget.
Source:http://www.expressbuzz.com/edition/story.aspx?Title=Rupee+eases;+local+stocks,
+dollar+weigh&artid=1iyDis0pDns=&SectionID=XT7e3Zkr/lw=&MainSectionID=XT7e3
Zkr/lw=&SectionName=HFdYSiSIflu29kcfsoAfeg==&SEO=
the dollar's gains, which dampened overseas sentiment.
At 10:45 a.m. (0515 GMT), the partially convertible rupee was at 48.09/10 per dollar, off an
early low of 48.19, and about 0.3 percent weaker than Thursday's close of 47.95/96.
It had hit 47.74 on Thursday, its highest since June 16.
"Stocks are offering the market no relief. But mostly the rupee's pressured because of the
dollar strengthening in cross currency movements," a trader with a foreign bank, said.
India's main share index seesawed after opening 0.7 percent lower on Friday after Asian
equity markets slipped and investors held back from taking positions ahead of next week's
federal budget.
Source:http://www.expressbuzz.com/edition/story.aspx?Title=Rupee+eases;+local+stocks,
+dollar+weigh&artid=1iyDis0pDns=&SectionID=XT7e3Zkr/lw=&MainSectionID=XT7e3
Zkr/lw=&SectionName=HFdYSiSIflu29kcfsoAfeg==&SEO=
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