<div style="float: left;">
	<img align="" alt="" class="imgCont" height="163" src="http://bsmedia.business-standard.com/_media/bs/img/article/2013-08/29/full/1377770102-9713.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="" width="218" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:218px;">
		<a href="http://www.shutterstock.com/pic-107807486/stock-photo-image-showing-folded-indian-notes-of-rs.html?src=p5N32CFr8-mqwY5wKad6IA-1-21" target="_blank"> Rupees image </a> via Shutterstock.com</div>
</div>

The rupee depreciated by 32 paise to 60.97 against the US dollar in early trade today at the Interbank Foreign Exchange due to increased demand for the US currency from importers amid a weak opening in the domestic equity market.
	Forex dealers said besides fresh demand from importers for the American unit, a lower opening in the domestic equity market as well as decline in industrial production growth to 4-month low of 0.5 per cent in July, put pressure on the rupee.
	However, the dollar's gain against the euro overseas, capped the losses, they said.
	The rupee had gained 28 paise, notching up its best daily gain in a month, to end strong at 60.65 against the Greenback in the previous session on Friday on heavy dollar selling by banks and exporters amid positive cues from equity markets.
	Meanwhile, the benchmark BSE Sensex dipped below the 27,000-mark by falling 185.55 points, or 0.69 per cent, to 26,875.49 in early trade today.


<div>
	The rupee fell to as much as 61.11, the lowest since August 14, tracking weaker Asian currencies.</div>
<div>
	&nbsp;</div>
<div>
	It was last trading at 61.04 versus Friday&#39;s close of 60.65/66.</div>
<div>
	<br />
	Traders cited sustained dollar buying from foreign banks.</div>
<div>
	&nbsp;</div>
<div>
	USD/INR pared some gains after RBI Governor Rajan&#39;s comments. Rajan said India&#39;s macroeconomic indicators are improving and inflation has been coming down.</div>
<div>
	&nbsp;</div>
<div>
	CPI data on Friday, WPI data on Monday had limited impact.</div>

Rupee hits 1-month low

Traders cite sustained dollar buying from foreign banks

Also Read

Rupee lower on month-end dollar demand

Rupee trades lower on dollar demand by state-run banks

Rupee extends losses as corporate dollar sales dry up

Rupee weakens past 61/dollar to 1-month low

Rupee trades around 61/dollar in afternoon

More From This Section

India's forex reserves near 8-week low

Rupee surges 28 paise to end at 60.65 vs dollar; logs 6th weekly rise

Rupee trades higher as custodians sell dollars

Rupee ends 3 paise higher at 60.93

Explore News