Rupee falls on month-end dollar demand from importers

May 28, 2014
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Reuters Market Eye – The rupee is trading at 59.15/16 versus its previous close of 59.04/05 on the back of heavy month-end dollar demand from importers, particularly oil firms.

The U.S. dollar too held near an eight-week peak against a basket of major currencies early on Wednesday, having edged up on the back of encouraging U.S. data and another record high on Wall Street.

The BSE Sensex is trading up 0.11 percent.

The rupee is seen holding in a 59.00 to 59.40 range during the session.

(Reporting by Swati Bhat)

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