Rupee weaker tracking Asian currencies

Tags: News
The rupee fell to as low as 60.35 to the dollar from its 60.1750/1850 close on Friday, its lowest since April 4, before recovering some of its losses. Monday was a market holiday in India.

The weaker rupee tracked Asian currencies, while slowing dollar inflows also added to the pressure, a foreign bank dealer said.

"Many research divisions are now recommending to unwind long rupee positions and book profits," said the dealer.

Sentiment was also cautious ahead of the release of two key inflation readings during the day - wholesale price index and consumer price index.

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