Indian rupee at new 1-mo low as dlr strength weighs

Mon Aug 18, 2008 12:04am EDT
 
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MUMBAI (Reuters) - The Indian rupee fell to a fresh one-month low on Monday as the dollar's strength against other currencies overseas weighed on sentiment, but likely intervention by the central bank may check a sharp fall.

* The dollar hit a six-month high against the euro but then slipped as oil prices rebounded, but worries about the euro zone economy stalling kept its losses limited.

* At 9:15 a.m. the partially convertible rupee was at 43.25/26 per dollar, weaker than 43.01/02 at close on Thursday. Financial markets were closed on Friday for Independence Day.

* Data on Thursday showed the central bank sold $7 billion in intervention in June, the biggest single-month figure since they started publishing data in April 1995.

 
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