Rupee Headed for Third Week of Losses

  • Rate this Story
  • 0
  • 0

February 22, 2013 3:37 PM EST

The rupee opens lower at 54.51/52 versus its close of 54.47/48.

Rupee headed for third week of losses.

Pair tipped in 54.30-54.75 band for session.

Dealers, however, expect some bunched-up dollar sales from state-run banks, which have largely been absent in the market for the past two sessions due to a strike.

The dollar bustled near a 5-1/2-month high against a basket of currencies on Friday, on doubts over just how long the U.S. Federal Reserve will keep its quantitative easing in place.

Asian currencies mixed.

  • Rate this Story
  • 0
  • 0
Copyright 2012 Thomson Reuters. All rights reserved.

Join the Conversation

IBTimes TV
E-Newsletters

We value your privacy. Your email address will not be shared.