ET:Rupee off highs vs dollar on suspected defence demand
The rupee is trading at 52.91/92 versus its previous close of 52.87/88 and off the day's high of 52.6750 on the back of dollar demand, seen tied for some defence related payments.
Traders suspected the dollar buying was on behalf of a large aircraft components manufacturer, and also cited oil-related greenback demand.
Traders expected the pair to hold in a 52.50 to 53.30 band over the next two weeks.
