The Indian rupee faced selling pressure in later deals on Wednesday as Islamic militants attacked Iraq’s biggest oil refinery located in Baiji, causing fears of disruption in oil supplies.
The militants took control over the refinery and are reportedly advancing towards capital Baghdad .
The rupee declined to a near 2-month low of 60.5355 against the greenback and held steady thereafter. The next support for the rupee is seen around the 60.7 level. At yesterday’s close, the pair was worth 60.33.