India`s rupee fell against the dollar, snapping a six-day rally, as mounting evidence the global economy is headed for a recession prompted investors to shun riskier investments, including emerging-market assets.

The same trend could be observed in banks who went on a buying spree for dollars causing the Indian currency to depreciate by 0.87%

The partially convertible rupee stood at 47.915 a dollar against its Wednesday`s close of 47.46/50.