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Movement of rupee during May
May 31, 2014 15:22 IST
The rupee weakened on Friday after trading in a tight band for much of the session as month-end dollar demand from oil importers offset the large dollar inflows seen towards Yes Bank's share sale.
Yes Bank Ltd has raised $500 million in a share sale to institutional investors, two bankers involved in the deal said, the first of a raft of equity deals expected after a landslide election victory for new Prime Minister Narendra Modi.
Traders will now focus on the RBI's monetary policy review next week which will be key in helping get some clarity on the central bank's thoughts on the outlook for inflation and rates.
Text: Reuters
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© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.