Rupee tumbles to all-time low of Rs 53.36/US dollar
The rupee sank to a record low of 53.21 per dollar on Tuesday on worries Europe’s debt crisis could exacerbate the growth slowdown in Asia’s third-largest economy.
At 9:05 a.m. (0335 GMT), the partially convertible rupee was at 53.15/18, after falling 1.53 percent on Monday to 52.84/85.
During trade on Monday it had hit 52.87 after the industrial output index for October plunged 5.1 percent from the same month a year earlier, far worse than expected.
The BSE Sensex also fell 0.3% early on Tuesday as investors turned cautious after a slump in industrial output raised concerns about corporate earnings and foreign fund outflows.
Index heavyweight Reliance Industries (RELI.NS) led the losses, falling 0.6%.
At 9:17 a.m. (0347 GMT), the main 30-share BSE index was down 0.29% at 15,829.55, with 22 of its components in the red.
The 50-share NSE index was down 0.37% at 4.746.50.
Source: Hindustan Times
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