Re falls most in a month

Down 57 paise on dollar buying, foreign outflows

- CHRISTINA TITUS

THE RUPEE ON Friday posted the biggest single-day fall in a month on heavy dollar buying by importers, foreign outflows and minimal intervention by the Reserve Bank of India (RBI), according to currency traders.

A strengthening dollar also added pressure.

The local currency fell 57 paise to 90.86 against the dollar, taking the month-to-date depreciation to 1.10%, according to Bloomberg data. In the current financial year so far, the rupee has fallen 6.32% —the worst in three years. It continues to be the worst performing currency among its Asian peers.