Indian rupee falls to 3-month low against US dollar

Written by Reuters | Mumbai | Updated: Aug 1 2014, 21:46pm hrs
The Indian rupee fell to as low as 61 per US dollar on Friday, its weakest level in three months on the back of a recent rally in the U.S. currency in global markets and falls of more than 1 percent in domestic share indexes.

Dealers said they suspected some mild dollar sales from state-run banks on behalf of the Reserve Bank of India to prop up the rupee.

The partially convertible rupee fell to as low as 61.08 per dollar, its weakest since April 25. It was trading at 61.06/0750 at 1448 India time (0918 GMT).