Markets

Indian rupee weakens to more than 9-month low; central bank seen intervening

Published December 11, 2014 Updated December 11, 2014 08:28am

1 min

By Shoaib Ur Rehman

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MUMBAI: The Indian rupee fell to its weakest level against the dollar in more than nine months tracking a decline in domestic shares, although it rebounded on what traders cited as likely intervention by the central bank.

The rupee was trading at 62.2750/2800 to the dollar at 0755 GMT, moments after falling to 62.3350, a level last seen on Feb. 20.

Domestic shares are down for a fourth session in five, with the NSE index dropping 0.6 percent.

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