Rupee at 3-week low; global dollar gains aid

The rupee hit a three-week low in early trade. The pair hit 61.96, highest since October 10. It is currently trading 61.83/84 versus Thursday close of 61.50/51.

The pair largely tracking global dollar gained with Dollar index up 0.17 per cent at 80.341.

The euro nursed heavy losses early in Asia on Friday, having suffered its biggest one-day drop in over six months as a shock slowdown in inflation piled pressure on the European Central Bank to further stimulate the economy.

Foreign investors bought Indian shares worth 18.75 billion rupees on Thursday, their biggest single-day purchase since May 21, provisional exchange data showed, remaining net buyers for a 20th consecutive session, bringing their total buying to nearly 181.92 billion rupees during that period.

Dealer tips 61.70-62.50 band for the session.

Copyright: Thomson Reuters 2013