ET:Rupee falls against dollar; Parliament in focus
The rupee extended losses to 55.23/24 versus its previous close of 55.11/12 on the back of dollar demand from oil refiners, with mild gains in domestic shares limiting a further downside.
Traders say the pair is expected to continue to remain rangebound in the rest of the session, pending key developments at the winter session of the parliament which kicked off on Thursday.
The government's fiscal stance will also be watched after a government source said the fiscal deficit could reach 5.5 to 5.6 per cent of gross domestic product in 2012/13, which could require additional market borrowing of Rs 350-400 billion.
