Zee Media Bureau
The rupee tumbled to its lowest level in 13 months to 63.54 against the US currency Tuesday due to increased demand for the greenback from importers and a weak opening in domestic equity markets.
Forex dealers said besides fresh demand from importers for the American unit at the Interbank Foreign Exchange here, a lower opening in the domestic equity market put pressure on the rupee.
Besides, dollar's gains against other currencies overseas weighed on the rupee, they added.
Sliding oil prices and a downbeat China factory survey weighed on Asian shares on Tuesday, while the rouble jumped after Russia sharply increased its benchmark interest rate in a bid to halt a collapse in its currency.
The partially convertible rupee was at 63.45 per dollar versus its Monday`s close of 62.94. The unit earlier dropped as low as 63.54, its weakest level since Nov 13, 2013.
With agency inputs
