The rupee erases the entire day`s gains to fall to as low as 61.5850. It had risen to 60.92 in the morning session, the highest level since August 18.
The Indian unit falls after Bloomberg TV reported the government is considering closing the dollar swap window offered to oil companies, citing unnamed sources.
Pair trading at 61.47/48 compared with 61.23/24 on Thursday.
First Published: Friday, October 18, 2013, 13:06