India's currency depreciates versus U.S. Dollar to 12-month low

Source: Bloomberg
© Scanpix/Agence France-Presse
India's currency dropped to 57 per Dollar for the first time in almost 12 months as Asian shares declined on speculation that the Fed will taper stimulus. The India's Rupee slipped 0.4% to 56.9450 per Dollar at 10:10 a.m. Mumbai time, after it reached 57 earlier, the weakest in more than 11 months. The India's central bank may start selling U.S. Dollars to slow the country's currency's downtrend.   
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