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Wednesday, September 14, 2011

Rupee Tumbles To Nearly 2-Year Low Of Rs 48.01 Per Dollar

Mumbai, Sep 14: The Indian rupee tumbled to a nearly two-year low of Rs 48.01 per US dollar in early trade today on persistent dollar demand from banks and importers in view of the firming dollar in overseas markets.

The rupee resumed lower at Rs 47.80/81 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 47.59/60 per dollar, and dropped further to a nearly 2-year low of 48.01 per dollar before quoting at 47.85/86 per dollar at 1030 hours.

The domestic currency had last closed below this level at Rs 48.10/11 per dollar on September 29, 2009.

From: http://ping.fm/MjKKC

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