The dollar traded at two-week highs against major currencies
The rupee is off one-week low hit in early session as dollar selling by foreign banks on custodial flows suspected. The rupee is at 61.15/16 after hitting an intraday low of 61.40. The unit closes at 60.95/96 on Wednesday.
Foreign fund inflows into stocks, bonds have been the key driver of INR; totalling $3.6 billion in March. Most other Asian currencies like the Indonesian rupiah and the Taiwan dollar are weaker against the dollar.
The dollar traded at two-week highs against a basket of major currencies early on Thursday, having posted solid gains after comments from Fed Chair Janet Yellen prompted markets to bring forward interest rate hike expectations.
( Source : reuters )
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