Indian rupee off five-week highs as shares fall

Jan 17 2014, 19:42 IST
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The Indian rupee is trading at 61.43/44 after touching 61.3175 earlier in day, its highest since December 11. (Reuters) The Indian rupee is trading at 61.43/44 after touching 61.3175 earlier in day, its highest since December 11. (Reuters)
SummaryThe Indian rupee is trading at 61.43/44 after touching 61.3175 earlier in day, its highest since December 11.

The Indian rupee is trading at 61.43/44 after touching 61.3175 earlier in the day, its highest since December 11 and still above its close of 61.5350/5450 on Thursday.

Losses in the domestic sharemarket helping the pair. Earlier good foreign bank selling of the greenback likely on behalf of clients looking to invest in the debt market had hurt the pair. The US dollar faded a little on Friday after a mixed bag of US economic data, while the Australian dollar was vulnerable after disappointing jobs figures the previous day knocked it below an important support level to a 3-1/2-year low.

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