Market News
Softer dollar of scant help to rupee as importer hedging, outflows persist - REUTERS
MUMBAI, Nov 13 (Reuters) - The Indian rupee closed marginally lower on Thursday as outflows and dollar demand spurred by persistent hedging from importers eclipsed the positive impulse from a broadly weaker dollar.
The rupee closed at 88.6650 against the U.S. dollar, down slightly from its close at 88.63 in the previous session.
Portfolio outflows from local stocks and persistent dollar demand from local companies have become sore points for the South Asian currency, increasing its reliance on central bank interventions to hold above its all-time low of 88.80 per dollar.
