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    HomeNewsBusinessMarketsRupee weakens past 60/$; oil companies buy greenbacks

    Rupee weakens past 60/$; oil companies buy greenbacks

    The rupee fall is on the back of heavy demand for dollars from importers, particularly oil companies

    July 12, 2013 / 14:58 IST

    The rupee extended its fall to below 60 per dollar levels in afternoon trade on Friday, weighed down by heavy demand for dollars from importers, particularly oil companies, according to dealers.

    Also Read: Nifty may retrace 5500; rupee seen heading to 67/$: CLSA


    The partially convertible rupee was trading at 60.02/03 per dollar at 12:42 p.m., compared with its previous close of 59.6750/6850.


    Traders expect support for the rupee at around 60.20 levels, adding if the level is broken the currency could fall to 60.50. The rupee had hit a record low of 61.21 on Monday.

    first published: Jul 12, 2013 01:21 pm

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