Rupee extends fall, nears 56 to dollar

The Indian rupee extended its decline to 55.95 versus its previous close of 55.5675/5775 as a choppy domestic share market and losses in the euro hurt.

Some month-end dollar demand from oil firms also helping the pair, traders said.

Most other Asian currencies too trading weaker compared with the dollar.

The index of the dollar against six major currencies traded up 0.3 per cent as the dollar was broadly underpinned by hopes that the U.S. Fed is ready to scale back the massive stimulus when warranted.

Domestic shares were choppy after briefly turning negative in line with other Asian markets.


(With inputs from Reuters)