Rupee falls on dollar demand from oil importers
The Indian rupee fell to 60.41 against a dollar Monday, on high demand for the greenback from oil importers.
The partially convertible rupee was trading at 60.34 against a dollar at the Interbank Foreign Exchange Markets here at around 2 p.m. -- five paise weaker than its previous session's close of 60.29.
The rupee touched a low of 60.41 against a dollar and high of 60.26 during intra-day trade.
The Indian currency is under pressure due to high demand for the US dollar from state-run oil companies to pay their respective import bill.
(Posted on 21-04-2014)