SENSEX NIFTY
May 22, 2013, 12.05 PM IST | Source: Reuters

Indian rupee hits near 6-month low; dollar buying continues

The Indian rupee hits a fresh near 6-month low in openeing trades as it falls to 55.48 after opening at 55.335. Dealers say follow-on dollar buying is pushing the pair up after a late surge on Tuesday.

Indian rupee hits near 6-month low; dollar buying continues

The rupee hits a fresh near 6-month low in opening trades. The rupees falls to 55.48 after opening at 55.335, currently at 55.43/44 versus Tuesday close of 55.41/42.

Also Read: Nifty to consolidate; go long above 6200: ICICI Direct

Dealers say follow-on dollar buying is pushing the pair up after a late surge on Tuesday.

The chief dealer of a private bank tips 55.20-55.50 band for the session.

Dealers say the bias may remain for the pair's strength on month-end dollar demand with crucial 55.20 level taken out on Tuesday.

The Bank of Japan on Wednesday decided to keep monetary policy on hold, but one board member tried unsuccessfully to loosen the central bank's commitment to achieving its 2 percent inflation target within two years.

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