Rupee falls on high dollar demand

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SME Times News Bureau | 21 Apr, 2014
The 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.