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Rupee hits 1-1/2 month low on dollar buying by state-run banks

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Reuters

Reuters Market Eye - The rupee falls 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 cite outflows of around $250 million, with state-run lenders buying dollars for corporates, and talk of dollar purchases for defence-related payments.

(Reporting by Gaurav Pai)

 

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First Published: Jul 31 2014 | 3:20 PM IST

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