Rupee slips to one-week low of 60.18 vs US dollar

The rupee today declined six paise to end at one-week low of 60.18 against the Greenback following demand for dollars in view of defence-related payments and importers.

However, a positive closing in local equities, capital inflows and a weak dollar overseas helped cap the fall to some extent, a forex dealer said.

The rupee resumed slightly lower at 60.13 a dollar from previous close of 60.12 at the Interbank Foreign Exchange (Forex) market.

It was then trapped in a narrow breadth of 60.1025 and 60.20 before concluding at 60.18, showing a fall of six paise or 0.10%. Yesterday, it had finished flat.

Today's closing of 60.18 is the rupee's lowest since 60.19 (July 10) versus US dollar.

The Indian benchmark S&P BSE Sensex today closed up 11.44 points, or 0.04%. FIIs injected Rs 621.68 crore yesterday, as per provisional data with stock exchanges.

The dollar index was down by 0.02% against a basket of six major currencies.

Pramit Brahmbhatt, Veracity Group CEO said: "Rupee continued to trade in a tight range to slightly weak as dollar demand from state run banks for oil importers and defence related payments balanced out the positive local equities. Expect rupee to appreciate in coming days if the local equities continues to trade higher.