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    HomeNewsBusinessWire NewsRupee at three-week low; rate pause hurts

    Rupee at three-week low; rate pause hurts

    MARKETS-INDIA-RUPEE-DOLLAR-FOREX:Rupee at three-week low; rate pause hurts

    December 18, 2012 / 16:02 IST

    Reuters Market Eye - Rupee at 3-week low, breaching 55/dollar, on continued disappointment after RBI keeps rates on hold.
    Rupee falls to 55.0550, lowest since November 29; now at 54.98/99 versus 54.84/86 last close.
    Senior dealer says exporters are holding back dollar sales at time of strong dollar demand, pushing up the dollar.
    Rupee may extend weakness to 55.50/dollar, adds dealer.
    "It will need RBI to provide dollar supplies or take out the oil demand from the market to drive rupee back into 54.60-54.10," he adds.

    first published: Dec 18, 2012 04:02 pm

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