Forex traders say positive cues from domestic equity markets and lower level of dollar provided support to the Indian currency
Forex traders say positive cues from domestic equity markets and lower level of dollar provided support to the Indian currency
Despite a weak US dollar against major overseas rivals, negative sentiment in domestic equity markets kept the rupee under pressure, forex traders say
Some inflow of foreign funds supported the Indian currency which was weighed down due to volatile crude oil prices, forex traders say
The currency is supported by bullish domestic equities
Currency stays on upward track amid weak US dollar, favourable crude oil prices
However, forex traders say a strong US dollar and volatile crude oil prices weigh on the domestic currency
Asian currencies were mostly lower, with the Korean won and Malaysian ringgit leading losses
Currency tracks negative trend in domestic equities and the strength of the US dollar in the overseas market
Price action on the South Asian currency is likely to be driven by 'merchant flows' as speculative activity remains muted towards the year-end
The dollar index had dropped to its lowest since late July after softer than expected US inflation data