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Rupee down 22 paise vs dollar, exporter selling near 60.


Date: 03-07-2013
Subject: Rupee down 22 paise vs dollar, exporter selling near 60
The rupee was trading lower and exporters are selling the US dollar near 60. The Indian currency was at 59.88/89 after falling to 59.96, last close at 59.66/67.

Asian markets extended weakness ahead of non-farm payrolls on Friday. Asian currencies were trading weaker against the US dollar.

Exporters sold the dollars near 60 and dealers were wary of RBI.

The rupee 1-month NDF closed NY trade at 60.20-24 amid high volumes.

The Reserve Bank of India on Tuesday said it would introduce incremental provisioning and capital requirements for bank exposures to corporates with unhedged foreign currency exposures.

Source : economictimes.indiatimes.com

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