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Rupee slumps to three-month low on dollar buying by state-run banks

reuters | Posted on 2014-07-31 11:09 AM

REUTERS - The rupee slumped to a three-month low on Thursday, hurt by a rally in the dollar in global markets that helped spur state-run banks into buying greenbacks for corporate and defence-related payments.

The partially convertible rupee fell to as low as 60.56 per dollar, its lowest since April 29. It was trading at 60.5150/52 by 4:30 p.m.

(Reporting by Gaurav Pai)

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