Markets

Indian rupee weakens below 56 to over 8-1/2 month low on dollar rally

Published May 23, 2013 Updated May 23, 2013 07:01am

1 min

By Shoaib Ur Rehman

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MUMBAI: The Indian 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 Sept. 6, 2012. At 0619 GMT, it was at 55.98/00 to the dollar versus its previous close of 55.46/47.

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