Rupee Falls to 9-Month Low of 62.25 Per Dollar Monday Dec 01,2014

 

The rupee slumped to 62.25 per dollar in morning trade, a level last seen nine months ago on February 20,2014

The partially convertible rupee traded at 62.12 per dollar versus Nov 28,2014 Friday's close of 62.03 as of 11.15 a.m. on Monday Dec 01,2014

The rupee is weakening because of global factors. A broad rally in the dollar has led to weakness in nearly all currencies. The euro and the yen are also trading at multi-year lows against the dollar.

The rupee has fallen for five straight weeks now. It dropped nearly 0.5%  last week.

In November 2014, the rupee declined 1.1 %