Rupee falls on global risk aversion

Euro close to a 3 month low

Rupee extended losses and was at 53.4750/4800 vs 53.12/13 last close, on global risk aversion, with euro close to a three-month low.

State-run bank dealer says exporters holding back, looking to sell when USD/INR closer to, or at, 54 levels.

Near-term resistance seen at around 53.80/90 levels, which is seen by traders as the threshold that could spark RBI intervention.