By Anoop Agrawal Nov. 6 (Bloomberg) -- India's rupee fell against the dollar, snapping a six-day rally, as mounting evidence the global economy is headed for a recession prompts investors to shun riskier investments, including emerging-market assets. The currency slid the most in two weeks as Asian stocks tumbled, adding to declines in the U.S., where reports yesterday showed employers in October cut the largest number of jobs in six years and service industries contracted by the most of record. The European Union also reported a record slump in services activity yesterday and said retail sales fell in September. ``The movement in the equity and currency market suggests concerns over global growth are far from over,'' said Vikas Babu, a currency trader at state-owned Andhra Bank in Mumbai. ``The undertone is still weak for the rupee.'' The rupee fell 1 percent to 47.915 versus the dollar as of 9:21 a.m. in Mumbai, according to data compiled by Bloomberg. It may decline to as low as 49.5 in two weeks, Babu said. The MSCI Asia-Pacific Index of stocks fell 5.4 percent, set for the biggest decline in more than a week. Funds based abroad sold $12.6 billion more Indian shares than they bought this year, according to the Securities and Exchange Board of India. That made the rupee the second-worst performer after the South Korean won among the 10 most-active Asian currencies outside Japan. To contact the reporter on this story: Anoop Agrawal in Mumbai at aagrawal8@bloomberg.net.

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