Mumbai: The Indian rupee opened trade on Friday at a record low of Rs50.15 per dollar, weighed down by heavy losses in Asian stocks which raised worries of more outflows from the local share market.
At 9am, the partially convertible rupee was at Rs50.00/15 per dollar, compared with Rs49.81/82 at close on Thursday.
Asian stocks fell on Friday, led by a 4% drop in Japan’s Nikkei, as the global economic slowdown slashed earnings prospects for an array of companies, forcing investors to look to safer government bonds.