The Indian rupee today fell by 37 paise to again slip below the 60 mark to 60.03 in early trade at the Interbank Foreign Exchange market,on heavy dollar demand tracking strengthening of the US currency overseas.
This is the first time since June 27 that the domestic currency has fallen below the 60 level. Rupee had touched an all-time low of 60.76 against the dollar on June 26.
Forex dealers said besides dollar gaining against other currencies to trade at nearly one-month high in the global markets on strong economic data,a lower opening in the domestic equity market also,put pressure on the rupee.
The rupee had depreciated by 14 paise to close at 59.66 against the dollar yesterday on defence-related dollar demand losses in the local stock market.
Meanwhile,the BSE benchmark Sensex fell by 211.54 points,or 1.09 per cent,to 19,252.19 in early trade today.
Indian rupee falls past 60 againt US dollar,worry over capital inflows
(Reuters) The Indian rupee fell below 60 to the dollar on Wednesday,heading for a third consecutive session of falls,on concerns foreign investors would continue to exit domestic markets and add to concerns about the funding of the country’s record current account deficit (CAD).
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Traders are also wary of potential intervention from the Reserve Bank of India.
The rupee was last at 60.03/04,weaker than its Tuesday close of 59.66/67.