Market News
Rupee weakens amid corporate dollar demand but does not breach 90 - REUTERS
MUMBAI, Dec 29 (Reuters) - The Indian rupee weakened for a third straight session on Monday as corporate dollar demand via private banks pressured the currency, with bids at the central bank’s reference rate adding to the drag, traders said.
The rupee closed at 89.9750 per U.S. dollar, softer than Friday's 89.85 finish. It opened at 89.88 and slipped steadily through the session.
"Apart from corporate dollar demand, there was hardly any activity from traders or speculators, which was clear as volumes remained shallow," a trader with a private bank said.
