Rupee Falls on Broad Dollar Gains after ECB Action

The rupee was trading at 60.43/44 versus its previous close of 60.3550/3650. The index of the dollar against six major currencies was trading up 0.05 per cent.

Gains in the domestic share market may, however, limit a sharp fall in the rupee. The Nifty was trading up 0.19 per cent.

Foreign investors bought shares worth $281.3 million on Thursday, as per provisional exchange data.

The European Central Bank cut interest rates and launched a large stimulus package for the flagging euro zone economy on Thursday.

Traders are now awaiting the U.S. nonfarm payrolls for further direction.

Copyright: Thomson Reuters 2014