The rupee slumped to its
lowest level in nine months on Thursday, tracking the dollar's strength
against major currencies and other Asian peers, while state-owned banks'
dollar demand for Iran oil payments also weighed.
At 9:57am,
the partially convertible rupee was trading at 62.1850/1900 after
falling to as low as 62.22 per dollar, its lowest since Feburary 20.
Traders expect the rupee to trade in a 61.90-62.30 range during the session.
Pradeep Shukla
pgdm 2nd year
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