July 03, 2013 / 11:41 IST
On Wednesday, the Indian rupee weakened further in morning trade, falling by 36 paise to 60.02 per dollar as against previous day's closing value of 59.66.
It opened lower by 21 paise to 59.87 per dollar. The currency saw a sharp fall on last Wednesday, hitting a record low of 60.76, but it managed to recover upto 59.52 from last Thursday onwards. It started losing its shine again from Tuesday, closing lower by 14 paise at 59.66 per dollar.Pramit Brahmbhatt, Alpari said, "The rupee is likely to trade lower on a stronger dollar, weak domestic market and high dollar demand from importers. The range for the day is seen between 59.32-60.22/USD."The euro slipped below 1.30 to the dollar. The dollar index was strong above 83.50 levels. Meanwhile, the dollar-yen inched to the 100 mark. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
