Rupee hits over two-month low as shares retreat

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Reuters MUMBAI
Last Updated : May 13 2013 | 10:05 AM IST

MUMBAI (Reuters) - The rupee weakened to its lowest level in more than two months on Monday weighed down by weaker domestic shares and broad gains in the dollar against global currencies.

At 9:50 a.m. (0420 GMT), the partially convertible rupee was trading at 54.99/55.00 per dollar, after hitting as low as 55.01, its lowest since March 4. The rupee closed at 54.80/81 on Friday.

The Sensex fell 0.6 percent, while the index of the dollar against six major currencies rose 0.2 percent.

(Reporting by Swati Bhat; Editing by Rafael Nam)

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First Published: May 13 2013 | 9:57 AM IST

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