Rupee at 6- month low as peers, stocks fall

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Old 21-May-2010
Post Rupee at 6- month low as peers, stocks fall

MUMBAI, May 21 :--

The rupee fell to its lowest in six-and-a-half months early on Friday, weighed down by lower domestic shares and weaker Asian currencies.

At 9:07 a.m. (0337 GMT), the partially convertible rupee was at 47.10/14 per dollar after hitting 47.12, its weakest since Nov. 5, 2009. It had closed at 46.81/82 on Thursday.

Most Asian currencies were weaker compared to the dollar.
Indian shares fell 2 percent early on rising foreign fund withdrawals in the wake of the euro zone debt woes and sliding world markets.
Data from the exchange regulator showed foreign funds had pulled out $1.3 billion from the stocks so far in May, reducing net inflows for the year to $5.3 billion.

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