Mumbai: The rupee hit a one-month low on Tuesday as continued dollar demand from oil importers and weaker regional currencies kept it under pressure even after the local unit posted its worst single-day fall since March 20 in the previous session.
The rupee ended at Rs 60.77 compared with previous close of Rs 60.59 per dollar.
Earlier in the day, the rupee is trading at 60.68/69 after hitting 60.71, its lowest since March 24.
The pair closed at 60.59/60 on Monday, posting its biggest single-day gain in more than a month.
Traders expect some consolidation in the pair later in the session. The pair is likely to hold in a 60.40 to 60.80 range during the day.
Most Asian currencies are also trading weaker compared to the dollar. The index of the dollar against six major currencies trading slightly higher..
Traders will watch the domestic stock market moves for cues on foreign fund flows during the session.
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