New Delhi, India (BBN)-The rupee fell to a three-month low of 63.28 against the US dollar on Thursday due to appreciation of the greenback overseas on strong American housing sales data.
This is Indian currency's lowest level since January 7, when it had touched 63.56 against the dollar, reports NDTV.
Fresh demand for the dollar from importers also weighed on the local currency, forex dealers said. The rupee had closed at 62.82/dollar on Wednesday.
Selling pressure in the stock market also hurt the sentiment. The Sensex fell over 200 points in late trade.