India Rupee Falls to 8 1/2 Month Low Against Dollar

        0401 GMT [Dow Jones] Indian rupee falls to a eight-and-a-half-month low against the U.S. dollar following the greenback's rise against major currencies. In early spot-session trading a dollar is buying 62.06 rupees compared with 61.96 Wednesday. "The fall is mostly due to global factors rather than any domestic factor," says Kishore Narne, associate director of currency and commodities at the brokerage Motilal Oswal. In fact, the rupee has not depreciated much compared with other emerging market currencies due to higher foreign flows and timely central bank interventions, he says. Narne expects the rupee may fall a little more to 62.80-63 and will stabilize at that level. (debiprasad.nayak@wsj.com)
        (END) Dow Jones Newswires

        November 19, 2014 23:01 ET (04:01 GMT)

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