Rupee trades at 59.45; up 6 paise

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, July 2, 2013, 9:11 [IST]

The rupee was trading at 59.45 against the dollar, up 6 paise in early trade. The rupee fell on Monday after breaching the 58 levels, as sustained dollar demand from crude importers exerted pressure on the currency.

Dealers say that the rupee will continue to be under pressure as the current account deficit remains a cause for worry. However, it may not easily breach 60 again this week, as the global equity markets are more upbeat.

The Indian rupee had hit a low of 60.71 earlier in June on sustained demand for the dollar.

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