ET:Rupee at 1-week low on euro slide, local shares
MUMBAI: The rupee fell to over a week-low on Tuesday pushed by persistent weakness in the euro and negative local shares.
At 9:21 a.m., the partially convertible rupee was at 44.6375/6400, weaker from Monday's close of 44.4750/4850. Intraday, the unit is expected to move in 44.55-44.70 range.
The euro was at $1.3954 versus $1.4088 at the close of domestic forex trade on Monday, while the index of the dollar against six major currencies was up 0.39 percent at 76.288 points. It was at 75.789 points when domestic currency market ended on Monday.
The euro fell to a four-month low against the dollar and a record low against the Swiss franc on Tuesday after new IMF Managing Director Christine Lagarde said the fund is not yet ready to discuss conditions or terms of a second Greek bailout and that Italian economic growth had to improve to restore confidence.
The benchmark local share index was down over 1 percent in early trade on Tuesday.
