Rupee Slips to 59.27 on Dollar Demand

The rupee was trading at 59.1350/1400 versus its previous close of 59.10/11, as large state-owned banks were spotted buying dollars for oil companies but broader falls are seen capped due to strength in local equities. It touched 59.27 earlier in the session.

Local shares were stronger due to gains in blue-chips such as Larsen & Toubro after earnings, while financial stocks extended gains a day ahead of the central bank's policy review.

The pair is seen trading in a range of 59.10 to 59.20 until close.

Copyright: Thomson Reuters 2014