Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessMarketsRupee retreats slightly, snapping recent losses

    Rupee retreats slightly, snapping recent losses

    Rupee trading at 55.996/02 compared to 56.16-17 in the previous close, en route to snap a four-day losing streak that saw the cross hit its lowest this month.

    July 26, 2012 / 15:08 IST

    Rupee trading at 55.996/02 compared to 56.16-17 in the previous close, en route to snap a four-day losing streak that saw the cross hit its lowest this month.


    Some of the pullback, with a session high at 55.85, being attributed to expectations for another round of quantitative easing from the Federal Reserve.


    However, month-end dollar demand from oil companies limiting further falls in USD/INR.


    "There are no specific flows in the market as such, but broadly people are expecting more stimulus from the Fed," a senior dealer with a private bank said.

    first published: Jul 26, 2012 03:00 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347