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Rupee little changed; choppy shares, euro weigh

Rupee little changed; choppy shares, euro weigh
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First Published: Thu, Jun 09 2011. 01 39 PM IST
Updated: Thu, Jun 09 2011. 01 39 PM IST
Mumbai: The rupee was little changed in afternoon trade on Thursday as comfort from dollar’s weakness overseas was offset by choppy local shares and the euro.
Dollar demand from oil importers also weighed on the rupee, traders said.
At 1:19pm, the partially convertible rupee was at 44.6925/6950 per dollar versus its last close of 44.70/71. So far in the day, the rupee had moved in 44.6400-44.7450 band.
The index of the dollar against six major currencies was down 0.27% at 73.730 points versus 73.700 points at end of trade on Wednesday.
The euro was at $1.4639 after touching a high of $1.4646. It had been at $1.4629 at close of local forex trade on Wednesday.
Traders expect the euro to move in a thin range before the European Central Bank’s rate decision due around 4:5pm, and may not throw fresh cues for rupee to follow.
The benchmark index was up nearly 0.3% after falling earlier in sync with weak Asian equities, as doubts about a global economic recovery spooked investor confidence.
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First Published: Thu, Jun 09 2011. 01 39 PM IST
More Topics: Markets | India | Rupee | Dollar | Currency |