Market News
Rupee ends lower as NDF maturity spurs dollar bids, Asian peers decline - REUTERS
MUMBAI, Feb 18 (Reuters) - The Indian rupee settled weaker on Tuesday, pressured by dollar demand spurred by the maturity of positions in the non-deliverable forwards (NDF) market and a decline in most of its regional peers.
Likely dollar-selling intervention by the Reserve Bank of India helped limit losses in the local unit, traders said.
The rupee closed at 86.95 against the U.S. dollar, down about 0.1% on the day.
Elevated interbank dollar demand due to the maturity of positions in the NDF market weighed on the rupee alongside likely outflows from local stocks, a trader at a private bank said.
