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    HomeNewsBusinessMarketsRupee down on oil demand; seen rangebound

    Rupee down on oil demand; seen rangebound

    The rupee edges down to 54.22/23 versus its Wednesday's close of 54.16/17 on the back of dollar demand from oil companies.

    May 09, 2013 / 10:36 IST

    The rupee edges down to 54.22/23 versus its Wednesday's close of 54.16/17 on the back of dollar demand from oil companies.


    The pair is seen holding in a range of 54.05 to 54.30 during the session.

    Also read: Oil holds above $104, helped by higher China imports


    Upside is likely to be capped as most Asian currencies trading positive versus the dollar. Domestic shares are flattish.


    Risk sentiment broadly strong on the back of the Korean rate cut and encouraging global economic data.


    Traders will now shift their focus to the consumer price index and industrial production data on Friday, which will be followed by wholesale inflation data on Monday, for near-term direction.

    first published: May 9, 2013 10:07 am

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