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Rupee weakens to more than nine-month low; RBI seen intervening

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Reuters MUMBAI

MUMBAI (Reuters) - The rupee fell to its weakest level against the dollar in more than nine months tracking a decline in domestic shares, although it rebounded on what traders cited as likely intervention by the Reserve Bank of India.

The rupee was trading at 62.2750/2800 to the dollar at 1:25 p.m., moments after falling to 62.3350, a level last seen on Feb. 20.

Domestic shares are down for a fourth session in five, with the Nifty dropping 0.6 percent.

(Reporting by Neha Dasgupta; Editing by Prateek Chatterjee)

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First Published: Dec 11 2014 | 2:16 PM IST

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