The rupee fell the most in a month on concern that investors will cut holdings of emerging-market assets after the latest reports on US consumer confidence, and inflation signaled the global economic recovery is faltering.
The rupee retreated 0.7 per cent, the most since June 22, to Rs 47.12 a dollar as of the 5 pm close in Mumbai. It touched Rs 47.13 earlier, the weakest level since July 7.
The currency may trade between Rs 46.75 and Rs 47.35 in the coming days, Arya predicted. Offshore forward contracts indicated the rupee will trade at Rs 47.72 to the dollar in three months, compared with expectations for a rate of Rs 47.35 at the end of last week.
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