Rupee to dollar: Corporate inflows, stronger Asian FX affects Indian currency

Apr 29 2014, 14:44 IST
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SummaryRupee erases all earlier gains due to large dollar sales from corporates, including some exporters.

Indian rupee falls to a low of 60.42/43 against US dollar, compared with its close of 60.6450/65 on Monday, erasing all earlier gains due to large dollar sales from corporates, including some exporters.

Firmer Asian currencies also weigh on the dollar, although investors are largely cautious ahead of the Fed's policy meeting ending on Wednesday.

Traders expect Indian rupee to remain under pressure against the US dollar for the rest of the session, although they note oil importers could step in to buy dollars.

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