Rupee down tracking weak euro; choppy shares hurt

The rupee continues to trade weaker at 54.84/85 versus its previous close of 54.78/79 as the euro's losses against the greenback boost.

The dollar was near a six-week high against the euro and a 4-1/2 year peak against the yen on Thursday on prospects for more monetary easing in the euro zone and scaled back asset buying in the United States.

Domestic shares ended up 0.2 per cent, but a choppy session boosted the dollar. There was intermittent profit-taking seen on the back of a sharp rally in the last two sessions after the wholesale price inflation data which has pushed up rate cut bets.

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