Indian Rupee Hits Six And A Half Month Low; Down 16 Paise

The Indian rupee has slipped further and touched a fresh six and a half month low of 65.88 against the dollar that gained clout overseas on talk of a US rate hike and the prospect of monetary stimulus pullout.

The US Fed's policy decision and commentary led to foreign investors heading to the exit door in local currency market.

Today, rupee opened lower by 11 paise at 65.82 per dollar against previous close 65.71.

The dollar rose to a more than one-month high against a basket of currencies, as optimism about US fiscal reforms boosted sentiment in favour of the greenback.

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