ET:Rupee weakens on day against dollar as markets tank
The rupee reversed gains to trade weaker at 54.62/63 versus its previous close of 54.56/57 as sharp losses in the domestic share market aided the US currency.
Shares provisionally closed down 1.2 per cent.
Traders expect the downside for the rupee to be capped at around 54.70 for the day.
Most custodian banks were seen buying the greenback on the back of geopolitical tensions from North Korea which issued a warning to foreigners to evacuate South Korea to avoid being dragged into a merciless, sacred, retaliatory war.
