Rupee trading flat; dollar demand counters gains in stocks

Written by PTI | Mumbai | Updated: Jul 17 2014, 20:42pm hrs
Indian rupeeIndian rupee fell marginally by two paise to 60.14 against the US dollar in early trade today. (Reuters)
Indian rupee is trading at 60.12/13, unchanged from Wednesday's close, as dollar demand from banks for oil and defence-related payments counter gains in the local share market.

The Nifty is trading 0.3 percent higher on caution ahead of quarterly results of key blue-chip companies later in the day.

Traders expect the market to remain range-bound, between 60.00 and 60.30 for the session.

Asian equities dipped on Thursday, giving up earlier modest gains as Chinese shares fell, while the euro probed recent lows against the dollar amid speculation the U.S. Federal Reserve was tilting towards tighter monetary policy.