Rupee falls most in over a year as vote count shows narrower win for Modi-led alliance



The Indian rupee slumped on Tuesday after vote counting trends signalled that Prime Minister Narendra Modi's Bharatiya Janata Party-led alliance would win a narrower majority than was expected, spurring a selloff in local equities. The rupee closed at 83.53 against the U.S. dollar, down 0.47% on the day, its worst single-day percentage fall since February last year.