Rupee falls to 1-week low after ECB disappoints

MARKETS-INDIA-RUPEE:Rupee falls to 1-week low after ECB disappoints

The rupee fell to a one-week low in early trade on Friday as global risk assets retreated after the European Central Bank indicated willingness to buy government bonds but set conditions that disappointed markets.

At 9.08 a.m., the rupee fell to 56.10/11 to the dollar versus its last close of 55.84/85. It fell to as low as 56.18 to the dollar, its lowest since July 26.