Rupee falls to its lowest in over 8-1/2 months

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The rupee fell to its lowest in over 8-1/2 months on Thursday, heading for a fifth consecutive session of falls, as the dollar rallied at the prospect the Federal Reserve might scale back its stimulus programme this year. The Indian currency breached the Rs 56 to a $ level in trade today.

The rupee fell to as low 56.01, its lowest since September 6, 2012. At 11.55 a.m., it was at 55.99 to the dollar versus its previous close of 55.46/47.