Rupee at 1-1/2 month low as state-run banks buy dollars

Dollar purchases for defence purposes also cited

The rupee fell to as low as 60.4775 against the dollar, its lowest since June 18. 

 

The Indian unit was last trading at 60.4550/46 versus its previous close of 60.06/07.

 

Dealers cited outflows of around $250 million, with state-run lenders buying dollars for corporates, and talk of dollar purchases for defence-related payments.