Rupee hits 1 month low; emerging markets under pressure

Tags: News
The rupee falls to a session low of 60.46, its lowest since June 18, as sentiment for emerging markets sours after news of a downed Malaysian airlines jet at the Ukraine-Russia border sent investors into defensive assets.

The rupee is trading at 60.37/38 compared with its Thursday's close of 60.18/19.

USD/INR faces good resistance at 60.50 levels, which mark the 76.4 percent Fibonacci retracement level of the April-May election-related dollar decline.

Indian shares fall, with the 50-share Nifty down 0.5 percent on global risk aversion.

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