Mumbai, Aug. 23 -- Indian rupee weakened past 72 mark to hit fresh eight month low against US dollar as traders looked ahead to a speech by the Federal Reserve chairman for clues about possible interest rate cuts.

The currency opened at 71.95 to a dollar and touched a low of 72 -- a level last seen on 14 December 2018. At 9:11 am, the home currency was trading at 71.97, down 0.19% from its previous close of 71.82.

The world's central bankers are gathering at Jackson Hole for one of the most important meetings in monetary policy. The event started on 22 August and goes through 24 August. Federal Reserve Chairman Jerome Powell will speak 23 August and traders will look for guidance about whether the Fed might cut rates at its next meeting i...