Indian rupee hit its bottom line in nine months
against the US dollar on Dec 1 as the partially convertible rupee traded 62.25
per dollar in early trade.
The rupee has fallen for five straight weeks now. It
dropped nearly 0.5 per cent last week. In November, the rupee declined 1.1 per
cent.
The rupee is weakening because of global factors. A
broad rally in the dollar has led to weakness in nearly all currencies. The
euro and the yen are also trading at multi-year lows against the dollar. The
dollar topped 119 yen to its highest since July 2007.
Expectations of a cut in interest rates on Tuesday
are also weighing on sentiments, analysts say.
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