Rupee falls to nine-month low against US dollar

Indian rupee Thursday touched a nine-month low of Rs.62.22 against the US dollar before recovering to end nearly flat.

According to experts, strengthening of the US dollar overseas and higher demand by importers was the reason for the rupee's fall against the dollar. The Reserve Bank of India's reference rate for the dollar is Rs.62.1044. The corresponding rate for Wednesday was Rs.61.8280.