ECM: Rupee falls to over 1-month low as shares decline
The rupee extended its fall to a more than one-month low in late afternoon trade on Thursday as sharp losses in domestic shares and weak Asian peers weighed on sentiment.
At 3:45 p.m., the partially convertible rupee was at 44.74/75 per dollar versus 44.465/475 last close. It dropped to as much as 44.76, its weakest since March 30. "Stocks have been the main trigger for the fall in the rupee today," said Ashtosh Raina, head of foreign exchange trading at HDFC Bank in Mumbai.
The main share index closed down 1.4 percent after having risen as much as 0.5 percent early. Most other Asian currencies too fell versus the dollar.
