Rupee opens weak at 60.77 to the dollar on US interest rate fears

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, September 10, 2014, 9:10 [IST]

The rupee opened the day weak by 17 paise at 60.77 to the dollar as against its Tuesday close of 60.50. Weak global cues, particularly stocks affected the currency markets in trade today, as a hike in interest rate worries in the US affected sentiments.

Shares in the US fell after treasury yields rose and the dollar remained strong against a basket of currencies.

The rupee is expected to continue to weaken, unless there is intervention from the Reserve Bank of India, during the course of the day.

The rupee has rallied dramatically in the last one year from levels of 68.86 seen in August last year to the current levels of Rs 60.77.

Check rupee rates against a basket of currencies here

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