Rupee fell belowlowest level in over 8 months

Mumbai, May 23 – The rupee fell below the key psychological level of 56 to the dollar on Thursday, its lowest level in over 8-1/2 months, as the dollar rallied on worries about a potentially early end to US monetary stimulus.

 

The rupee fell to as low as 56.01, its lowest since September 6, 2012. At 11.49am., it was at 55.98/00 to the dollar versus its previous close of 55.46/47.TTI