<p>The rupee snapped a three-day winning streak on Thursday on month-end dollar demand from oil firms and other importers, but continued strong foreign flows into shares and debt limited further declines.<br /><br /></p>.<p>Foreign funds have bought a total of $3.3 billion in debt and equities so far in December. Shares edged up as blue-chips extended a rally, although bonds fell for a fourth consecutive session.<br /><br />Trading was thin because of the holiday week, with major financial centers such as London also closed on Thursday.<br /><br />"The market has been very dull. There will be month-end demand continuing while we could also see some year-end dollar selling which will keep the unit in a range," said Hari Chandramgethen, head of foreign exchange trading at South Indian Bank.<br /><br />Chandramgethen predicted a 61.65 to 62.15 per dollar range for Friday.<br /><br />The partially convertible rupee closed at 62.16/17 per dollar compared to 61.79/80 on Tuesday.</p>
<p>The rupee snapped a three-day winning streak on Thursday on month-end dollar demand from oil firms and other importers, but continued strong foreign flows into shares and debt limited further declines.<br /><br /></p>.<p>Foreign funds have bought a total of $3.3 billion in debt and equities so far in December. Shares edged up as blue-chips extended a rally, although bonds fell for a fourth consecutive session.<br /><br />Trading was thin because of the holiday week, with major financial centers such as London also closed on Thursday.<br /><br />"The market has been very dull. There will be month-end demand continuing while we could also see some year-end dollar selling which will keep the unit in a range," said Hari Chandramgethen, head of foreign exchange trading at South Indian Bank.<br /><br />Chandramgethen predicted a 61.65 to 62.15 per dollar range for Friday.<br /><br />The partially convertible rupee closed at 62.16/17 per dollar compared to 61.79/80 on Tuesday.</p>