The rupee fell to 56.14/15 versus its previous close of 55.84/85 as the euro stayed under pressure after the European Central Bank disappointed by not immediately providing any fresh stimulus to the suffering eurozone.
"The next target is 57 soon. Importers still cover on dips, exporters may start covering partially for the next three months with a stop loss of 55.95 levels," India Forex noted in a report.
The stockmarkets fell more than 1 per cent tracking the slump in risk assets globally. Traders expect resistance around the current levels, citing reduced oil-related dollar demand at the start of the month.
