Rupee is trading at 62.8450/8550 on Monday
Mumbai: Rupee slumped to its weakest in over a month after a spurt in dollar outflows triggered by the greenback's strength globally as well as weaker shares, said traders. At 2:33 pm, the rupee was trading at 62.8450/8550 to the dollar, compared with 62.36/37 on Friday. The rupee had fallen to as much as 62.86 to the dollar, its lowest since March 16.
Shares were also headed for their biggest single-day fall in nearly a month on worries over retrospective taxation for foreign institutional investors.
( Source : reuters )
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