Rupee falls to four month low of Rs 61.29 against dollar

The Indian rupee fell to a four-and-half month low against the dollar on Wednesday trading at 61.29 per dollar. This is the biggest dip for the currency since March 21.

In early trade in the morning, it had dipped 30 paise to 61.14 against the US currency in early trade at the Interbank Foreign Exchange market today due to the dollar's gain against other currencies overseas.

Forex dealers said besides the dollar's gain against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.The domestic currency had gained nine paise to close at 60.84 against the US dollar in yesterday's trade on the back of rising local stock market and sustained dollar selling by exporters.Meanwhile, the benchmark BSE Sensex fell 37.45 points, or 0.14 per cent, to 25,870.56 in early trade today