Rupee falls to two-week low at 42.60/61 per USD

Mumbai, Aug 13: The Rupee on Wednesday, Aug 13 fell to a two-week low at 42.60/61 per US Dollar, skidding about 24 paise, from its previous close of 42.36/37 per dollar on weak global cues in the early trade. The domestic unit fell as dollar demand for oil purchases weighed and losses in the local stock market fuelled concerns about capital outflows, dealers said.

Rupee was also under pressure from arbitrage between the onshore and offshore rate. One-month offshore non-deliverable forward contracts were quoted at 42.79/89 per dollar, dealers added.

UNI