Rupee at 9-month low, down 22 paise against dollar

Mumbai, 29 – The rupee on Wednesday fell by 22 paise to trade at fresh nine-month low of 56.18 against the US dollar in early trade on the Interbank Foreign Exchange due to month-end demand for the US currency from importers and banks.

 

Appreciation of the American currency against major currencies overseas on robust economic data and a weak opening in the domestic equity market also put pressure on the rupee, dealers said.

 

The rupee had slumped by 39 paise to end at nearly nine-month low of 55.96 a dollar in Tuesday's trade.  PTI