Indian rupee extends fall, hits over 2-month low on risk aversion
The rupee fell to a low of 82.7775 per dollar, its weakest since May 30, compared to its previous close of 82.5825. It tracked losses in other Asian currencies, which also struggled on risk off fuelled by ratings agency Fitch downgrading the U.S. credit rating. Traders, however, expect the Reserve Bank of India to step in to prevent further sharp falls in the local currency.
