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Rupee stays weak; off lows on corp dollar sales

Source : REUTERS
Last Updated: Mon, Mar 04, 2013 08:15 hrs
An employee arranges Indian currency notes at cash counter inside a bank in Agartala

The rupee trades weaker at 55.05/06 versus its previous close of 54.90/91. The pair, however, off the day's high of 55.15, its strongest since January 8.

Traders say corporate dollar inflows of around $250 million pulled the pair off the day's high.

Sentiment for the dollar continues to remain bullish with the Sensex trading down 0.6 percent.

Losses in the euro and other Asian currencies also helping the dollar.

The pair is seen holding in a 54.80 to 55.30 range during the session with strong resistance expected around the 55.15 levels.





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