3:25 PM
alphaadvisory
The rupee continues to trade lower at 53.28/29 versus its Thursday's
close of 53.2150/2250 as investors cover their short-dollar positions.
The pair had dropped to a three-and-a-half month low of 53.07 on
Thursday.
Losses in most other Asian currencies also hurts sentiment.
South Korea's threat to impose a broad tax on financial transactions is the first sign of deepening concern in Asia that speculation of competitive currency devaluations is prompting investors to head for the exit.
Domestic shares trading down 0.3 percent, boosting the pair further up but hopes for inflows towards Oil India's stake sale is keeping the gains in check.
Losses in most other Asian currencies also hurts sentiment.
South Korea's threat to impose a broad tax on financial transactions is the first sign of deepening concern in Asia that speculation of competitive currency devaluations is prompting investors to head for the exit.
Domestic shares trading down 0.3 percent, boosting the pair further up but hopes for inflows towards Oil India's stake sale is keeping the gains in check.
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