Rupee falls to eight month low against dollar

Chennai, Nov 20 (IANS) The Indian rupee Wednesday ended at Rs.61.96 against the US dollar — the lowest in the eight-month period.

According to industry experts, this is due to the demand for US dollar by oil importers and a slowdown in inflows.

The Reserve Bank of India (RBI) has pegged the reference rate for the US dollar at Rs.61.8280 as against Tuesday’s Rs.61.9080.

The RBI’s reference rate for Euro is 77.4210.