Rupee is trading at 59.28/29 versus its close of 59.20/21
JNNURM housing scheme for the poors (Photo: DC archives)
Mumbai: The rupee is trading at 59.28/29 versus its close of 59.20/21,tracking weakness in the domestic sharemarket.
Traders will continue to monitor foreign fund flows into domestic share and debt market for direction. Foreign investors bought a net $826.9 million in debt markets on Friday, the highest single-day flows since Jan. 15.
The pair is likely to see some resistance around 59.40 levels, holding it in a 59.20 to 59.40 range for the day. Local stocks trading down 0.21 per cent.
Most other Asian currencies also weakened against the dollar. The dollar held steady versus a basket of major currencies on Tuesday, clinging to gains made the previous day thanks to higher US bond yields after last week's solid US jobs report.
( Source : reuters )
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