Rupee hits one-month low; oil demand hurts

The rupee falls to 53.77/78 versus its previous close of 53.41/42, after hitting 53.82, its lowest since September 21 on the back of heavy dollar demand from oil firms.

The rupee falls to 53.77/78 versus its previous close of 53.41/42, after hitting 53.82, its lowest since September 21 on the back of heavy dollar demand from oil firms.

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Traders say broad risk-off seen in global markets also aiding sentiment for the dollar.

Asian shares ease as markets consolidate gains from a three-day rally, while the euro remains underpinned by easing tension over the euro zone's debt crisis.