 "Rupee falls to over 2-month low on weak economic data, crosses 72 a dollar")
The Indian rupee on Wednesday fell 0.86 per cent against the dollar on weak economic numbers. The currency crossed 72 a dollar, but the Reserve Bank of India (RBI) did not intervene. The currency slid to a two- month low.
The rupee closed at 72.09 a dollar, lowest since September 4. This was its biggest single-session fall since September 16. The currency shed the most in Asia, and year to date, it has fallen 3.22 per cent. The dollar index, which measures the greenback’s strength against major global currencies, rose 0.05 per cent to 98.35.
The index of industrial production (IIP) contracted
