Rupee hits one-month low on heavy dollar demand from oil firms
MUMBAI (Reuters) - The rupee fell on Tuesday to its weakest level against the dollar since March 21, weighed down by heavy greenback demand from importers, particularly oil firms, as well as weaker regional currencies.
The partially convertible rupee was trading at 60.85/86 per dollar by 2:55 p.m., after earlier hitting as low as 60.86, its weakest since March 21. The unit had closed at 60.59/60 on Monday.
Asian currencies also fell on Tuesday, with the Chinese yuan hitting a 14-month low.
(Reporting by Swati Bhat; Editing by Rafael Nam)