Rupee falls to 9-month low on broad dollar strength

The rupee slumped to its lowest level in nine months on Thursday, tracking the dollar's strength against major currencies and other Asian peers Stock Market Tips

State-owned banks' dollar demand for Iran oil payments also weighed.

 

At 9:57 am, the partially convertible rupee was trading at 62.1850/1900 after falling to as low as 62.22 per dollar, its lowest since Feb 20.

 

Traders expect the rupee to trade in a 61.90-62.30 range during the session Financial Asytrology Trading Tips