Rupee drops amid speculation investors reduce share purchases

India's currency fell on Monday snapping its three-day series of gains amid concerns that investors will reduce purchases of the Indian shares after no signs of progress in the U.S. debt ceiling talks. The Indian Rupee was traded 0.3% lower at 61.650 per U.S. Dollar at 9:55 a.m. Mumbai time after it climbed 1.7% last week, the most among all most-traded Asian currencies.