Mumbai: Rupee trading at 55.88/89 versus Wednesday’s close of 55.9050/9150 and well off the day’s high of 56.03 as domestic shares gain on the back of a strong open in European markets ahead of the ECB meeting outcome.
European stocks edged higher and the euro hovered near an eight-week high on expectations the ECB will unveil new tactics to cut high borrowing costs for indebted euro zone states at the policy meeting later in the day.
Traders, however, said dollar demand from oil refiners was preventing a further drop in the pair.
