Rupee falls to two-week low on Fed's US economy outlook

The rupee fell to a two-week low against the dollar on Thursday as the greenback posted gains after the US Federal Reserve statement at the conclusion of its meeting was seen as showcasing more confidence about the US economy prospects.

The local currency was trading at 61.43/44 to the dollar after falling as low as 61.55, a level last seen on Oct. 17. The rupee had closed at 61.35/36 on Wednesday.

The rupee is likely to trade between 61.30 to 61.65 per dollar during the session, traders said.