RUPEE HITS 2-MONTH LOW, TANKS 39 PAISE VS DOLLAR ON US RATE HIKE FEARS .

The Indian rupee today fell to two-month low and closed with a sharp 39 paise loss at 62.55 against the US dollar after better-than-expected jobs data spurred expectations of an early hike in US interest rates.

Fresh dollar demand from importers amid strong cues in overseas markets and a steep fall in local equities also weighed on the rupee value.