Rupee falls towards 56 on euro slide

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The rupee falls further to 55.83/84 on the back of sharp falls in domestic stocks after RBI disappointed by leaving interest rates unchanged, and as euro reversed earlier gains despite slim majority won by pro-bailout parties in Greece elections.

Spanish financial assets fall as worries return about the country's fiscal and banking problems.

Traders expect the rupee to touch below 56 per dollar if the euro continues to fall.