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The rupee slips to its lowest in a month on Friday, weighed down by dollar demand from oil importers as well as concerns about central bank intervention and foreigners pulling out funds from the stock market, dealers say.
At 11:50 a.m., the rupee at 39.562/567 per dollar, its lowest since Oct. 26, and slipping from an early high of 39.47.
Dealers say strong offshore demand for dollars was putting pressure on the local unit, an indication that some overseas investors were cutting holdings in Indian assets.
Rupee slips on oil, concerns about capital outflows
At 11:50 a.m., the rupee at 39.562/567 per dollar, its lowest since Oct. 26, and slipping from an early high of 39.47.
Dealers say strong offshore demand for dollars was putting pressure on the local unit, an indication that some overseas investors were cutting holdings in Indian assets.
Rupee slips on oil, concerns about capital outflows
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