Rupee sees biggest monthly fall in 3 years, closes at 71/$
The rupee on Friday closed at a historic low of 71 per dollar to end its biggest monthly fall in three years. While the local currency fell 3.57% in August, it has weakened over 10% on a year-to-date basis. The rupee fell past 71 for the first time in early trade on Friday amid a sell-off in emerging market currencies.