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Rupee falls as oil companies buy dollars, core WPI weighs

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Reuters

Reuters Market Eye - The rupee falls to 60.10/11 compared with 59.93/94 Friday's close, due to some dollar demand from oil marketing companies and concerns after core wholesale price inflation came in above expectations, weigh on the Indian unit.

India reported core wholesale inflation last month of around 3.9 percent in June, slightly higher than market expectations according to traders, even as the headline wholesale price inflation eased to a four-month low of 5.43 percent.

Market awaits consumer price inflation data due to be announced after market hours for further direction.

The rupee is seen moving in a 60.05 to 60.20 range until close.

 

(Reporting by Neha Dasgupta)

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First Published: Jul 14 2014 | 3:16 PM IST

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