Rupee loses 12 paise; HUL remittance eyed

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, July 5, 2013, 9:39 [IST]

The Indian rupee was trading weak losing 12 paise in trade and was last placed at 60.25 against the dollar.

Dealers say that next week the currency could strengthen with the anticipated inflows from Unilever for a stake hike in Hindustan Lever completed on Thursday.

However, in the more medium term the trend seems weak given that foreign funds have turned net sellers in equity and for the last few days their purchases in the cash segment of the equity markets are almost negligible.

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