ENM: Rupee trims fall tracking shares; dollar eyed
MUMBAI: The rupee trimmed most of its losses in afternoon trade on Monday and was largely flat tracking the domestic sharemarket and the dollar's moves versus major currencies.
At 2:40 p.m., the partially convertible rupee was at 46.16/17 per dollar, little changed from its previous close of 46.15/16. The rupee fell to 46.2750 during Friday trade, its lowest since January 5.
Indian shares were trading down 0.2 per cent recovering from a fall of 0.9 per cent earlier.
The dollar slipped against the euro and higher-yielding currencies on Monday as some investors took profits on the US currency's broad gains last week which had been fuelled by risk aversion.
One-month offshore non-deliverable forward rupee contracts were quoted at 46.245/285, weaker than the onshore spot rate.
In the currency futures market, the most traded near-month contracts on the National Stock Exchange and MCX-SX were both quoting at 46.1775, with the total traded volume on the two exchanges at about $3.95 billion.
