Rupee falls 1 per cent to two-year low

Mumbai: The rupee fell one percent to its lowest in more than two years on Thursday as the dollar climbed to seven-month highs against major currencies after the Federal Reserve said there were "significant downside risks" to the economy but stopped short of bold monetary easing.

At 9:01 am (0331 GMT), the partially convertible rupee was at 48.84 per dollar, after touching 48.85 - a level not seen since September 4, 2009.

It had ended 0.6 weaker at 48.325/335 on Wednesday.