Rupee falls to one-month low on oil firms' demand

The rupee hit session low of 62.58 today, its lowest since October 2, on sluggish domestic equities and demand from private oil companies, traders said. The pair last traded at 62.54/55, up from Wednesday's close of 62.39/40.

"The INR has broken the range of last one month and that should bring it to around 62.80," said a trader with a state-owned bank.

Rupee's fall comes even as euro gains in Asian trading on Thursday after upbeat German data dampened the chances of any imminent interest rate cut from the European Central Bank.

Copyright: Thomson Reuters 2013