Rupee hits over two-month low as shares retreat

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., 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 per cent, while the index of the dollar against six major currencies rose 0.2 per cent.

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