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Rupee extends losses; oil demand hurts

Source : REUTERS
Last Updated: Wed, Jan 16, 2013 07:31 hrs
An employee counts Indian currency notes at a cash counter inside a bank in Kolkata

The rupee extends losses to 54.83/84 versus its previous close of 54.6150/6250 on the back of dollar demand from oil firms, along with some short-covering.

Weakness in regional and local shares also aiding sentiment for the dollar.

Dealers expect exporters to step in to sell the greenback around 54.90-95 levels, preventing a sharper rise beyond that.

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