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Rupee recovers after stocks slump on Infosys

Source : REUTERS
Last Updated: Fri, Apr 12, 2013 05:20 hrs
Kashmiri shopkeeper sits near garlands made of Indian currency notes in Srinagar

The rupee is off highs after lower stock market open on disappointing Infosys results, say dealers. The pair at 54.45/47 after falling to 54.34 earlier in trade, a 1-week low, compared with its previous close of 54.52/53. The BSE Sensex is down 1.4 percent after Infosys shares tank on lower margins, FY14 revenue guidance.

The dollar stayed within spitting distance of 100 yen in Asia on Friday as dips were met with buying interest, putting dollar/yen on track for a second week of gains and the biggest two-week rise in four years.

Dollar index down 0.1 percent at 82.17, which helped in initial fall for the pair.





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