Rupee slumps nine-month low of 62.25 per dollar
The partially convertible rupee traded at 62.13 per dollar versus Friday’s close of 62.03, as of 10 am.
The rupee has slumped for five straight weeks now. It dropped nearly 0.5 percent last week. In November, the rupee declined 1.1 per cent.
Sources said 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 dollar topped 119 yen to its highest since July 2007, reports said.
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