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Rupee touches 53, weakest in nearly two weeks
An employee uses an electronic machine to check an Indian currency note inside a bank in Allahabad December 16, 2011.
Credit: Reuters/Jitendra Prakash/Files
Reuters Market Eye - Rupee fell below the 53 mark to hit its weakest level in nearly two weeks versus its previous close of 52.72/73, tracking broad gains in the dollar as investors are wary of taking on risk amid concerns of weak earnings in the United States.
Most Asian units weaker to mildly positive versus the dollar.
Dollar demand from oil and other importers is also expected to boost the pair, though some resistance is expected around the psychologically key 53 level with exporters likely to step in to sell the greenback, dealers say.
The pair is likely to move in a 52.80 to 53.20 band during the day, they add.
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