Reuters Market Eye - The rupee falls accelerate as stop-losses got triggered after the pair broke above 60 to the dollar. The pair at 60.09/10 after rising to as high as 60.21. It closed at 59.4150/4250 on Monday.
The pair up 1.1 percent on day, its biggest daily percentage gain since June 26.
Rupee weakening after RBI shies away from stronger measures to boost currency and says it will roll back its recent cash tightening steps in calibrated manner if rupee stabilises.
Comments raise questions about RBI's resolve in sustaining cash-draining measures that have sent bond yields surging and threatened to raise borrowing costs across economy.
Month-end oil demand also putting pressure on the INR.
(Reporting by Subhadip Sircar)
