06 March, 2013

Rupee off highs as oil firms step in to buy

Rupee off highs as oil firms step in to buy - The Economic Times

Rupee off the day's high of 54.6150 and currently trading at 54.78/79 versus its previous close of 54.92/93 as oil firms step in to buy dollars.

The pair dropped sharply earlier in the session on the back of gains in regional risk assets.

Some traders say buying was also seen ahead of RBI's reference rate fixing, though gains are unlikely to sustain for too long.

All Asian currencies trading stronger compared to the dollar.

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