Bearish sentiment was seen in the interbank market on Monday as the rupee lost eight paisa against dollar for buying and selling at Rs 60.56 and Rs 60.57, dealers said. The dollar supply was tight due to international market closure, they said adding it is expected that the rupee may recover its lost ground as supply improves.
The rupee value against the dollar and the euro in the open market was not received as almost all commercial centres remained close due to general strike in the port city. In the global markets, the dollar slipped on Monday, pulling further away from a one-month high hit against the euro late last week as investors shifted funds to higher-yielding currencies following robust New Zealand consumer spending data.
The yen edged up against the dollar after data showing Japan's current account surplus soared 36.9 percent in March to a record 3.3172 trillion yen ($27.60 billion) and wholesale prices rose more than expected in April, keeping the Bank of Japan on track for a rate increase later this year. "The price data was very surprising. This was enough to fuel concerns that the BOJ may hike rates earlier than expected," said Tomoko Fujii, a senior economist and strategist at Bank of America in Tokyo.

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Buying                  Rs 60.60
Selling                 Rs 60.70
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Buying                Rs 60.56
Selling               Rs 60.57
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