NEW DELHI, Jan. 13 (Xinhua) -- Indian currency Rupee's value fell steeply on Monday taking it to over 86.60 against the U.S. dollar, described as the lowest ever.

An online report by "The Indian Express" quoted market analysts as saying that the country's central bank the Reserve Bank of India (RBI) had allowed the fall in Rupee's exchange rate versus the dollar amid dwindling forex reserves and declining emerging market currencies.

"The Rupee logged its steepest single-day fall in nearly two years, and ended the session 58 paise down at its historic low of 86.62 (provisional) against the dollar on Monday, weighed down by a stronger American currency and surging crude oil prices," said the online report.

Over the past two weeks, the Indian currency had witnessed the deepest plunge of more than 1 Rupee against the dollar. Enditem

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