Rupee loses for fourth day; early demand from importers

The rupee lost against the dollar for a fourth session on early follow-on demand from oil and defence importers, dealers said.

The pair traded at 54.30/31 levels after opening at 54.18, versus its previous close of 54.175/185 on Monday.

The RBI chief's comments on inflation and low chances of further rate cuts also weighed on the Indian currency.

Most Asian currencies traded firmer versus the dollar.

Dealers are awaiting the inflows related to some recent corporate deals, particularly Qatar's $1.26 billion investment in Indian telecommunication company Bharti Airtel, which should provide some support for the rupee.

Copyright @ Thomson Reuters 2013