Rupee weakens again; drops 37 paise

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 Rupee weakens again; drops 37 paise
The rupee opened the weak on a poor note, dropping by 37 paise to hit 59.93 against the dollar on sustained buying in the dollar.

Weakening economic fundamentals continued to weaken the rupee. Dealers say that measures taken recently to reduce volatility in the rupee have not worked and the Indian currency, infact, has turned more volatile.

There maybe more RBI intervention should the rupee drop past the 60 mark today. Meanwhile, markets have opened the day on a flattish notes in line with most other Asian markets.

Read more about: dollar
Story first published: Monday, July 15, 2013, 9:07 [IST]
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