Rupee continues to weaken; trades at 63.47

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, November 12, 2013, 9:56 [IST]

The rupee continued to weaken in trade with the currency trading at 63.47 against the dollar. Strength in the dollar after a bright jobs data has put pressure on emerging market currencies.

Worries that the Fed would unwind its stimulus has added to further pains for the currency. The rupee has been falling for the last three days in a row.

According to reports there is a renewed demand for the dollar from oil marketing companies who have returned to the forex market.

The RBI has been meeting the dollar requirements of banks through a special window. However, the arrangement might get over by the end of the month prompting a further fall in the currency. Get rupee rates here

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