rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Rupee falls below 60-level against dollar; down 28 paise

Rupee falls below 60-level against dollar; down 28 paise

Last updated on: June 16, 2014 11:34 IST

ReutersThe rupee fell below the 60-level against the American currency after a gap of over one month by dropping 28 paise to 60.05 on sustained dollar demand from importers amid rise in crude oil prices.

The local currency moved in a range of 59.80 and 60.05 per dollar during the morning trade on Monday.

It had last traded at 60.05 on May 12, 2014.

Crude oil prices rose to nine-month high in Asian trade today as investors kept a wary eye on the worsening crisis in Iraq, where insurgents were advancing towards capital Baghdad.

US benchmark West Texas Intermediate for July delivery jumped 35 cents to $107.26 a barrel in late-morning trade.

Meanwhile, the benchmark BSE Sensex dropped 104.30 points, or 0.41 per cent, to 25,132.87 at 1000 hours.

© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.