PN:Rupee off lows on dollar sales by foreign banks
The Indian rupee traded at 54.89/90 levels against the US dollar, off the day’s low of 55.08 on the back of dollar sales on Thursday. It is down slightly from its previous close of 54.88/89.
An estimated $100 million sold from a large gas transmission and marketing company too pulled the currency off its session high.
Traders attributed sales to bunched up dollar inflows after markets were closed on Tuesday and Wednesday.
However, importers are expected to buy dollars around 54.90-95 levels, preventing any further losses in the pair.
Traders now expect the pair to hold in a 54.90 to 55.15 band in rest of the session.
The BSE Sensex index, meanwhile, is trading down around 0.8 per cent.
