The Indian rupee plummeted by 48 paise to Rs 53.45 per US dollar in early trade today on sustained month-end demand for the American currency from importers and some banks amid weakness in the domestic stock market.
The rupee resumed lower at Rs 53.35/36 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 52.97/98 per dollar, and declined further to Rs 53.45 per dollar before quoting at Rs 53.40/41 per dollar at 1030 hours.
From: http://ping.fm/uAHgA
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