Rupee falls, tracking lower emerging currencies

Last Updated: Fri, Jul 18, 2014 14:58 hrs

The rupee is trading at 60.26/27, off the one-month low of 60.46, but still below the 60.18/19 close on Thursday.

Sentiment for emerging markets has been negative after news of a downed Malaysian airlines jet at the Ukraine-Russia border sent investors to defensive assets.

The rupee faces good resistance at 60.50 levels, which mark the 76.4 percent Fibonacci retracement level of the April-May election-related dollar decline.

Indian shares recover losses with the 50-share Nifty up 0.2 percent on global risk aversion.

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