Rupee falls to nearly six-year low of Rs48.28 against dollar

Rupee falls to nearly six-year low of Rs48.28 against dollar
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First Published: Wed, Oct 08 2008. 10 44 AM IST
Updated: Wed, Oct 08 2008. 10 44 AM IST
PTI
Mumbai: The Indian rupee today declined by 35 paise to its nearly six-year low of Rs48.28 against the US dollar in early trade on sustained capital outflows and rising demand from oil refiners for the greenback amid melting stock markets.
At the Interbank Foreign Exchange market (Forex), the Indian currency, which yesterday closed lower by 11 paise at Rs47.93/94 after breaching the 48-mark for the first time since December 2002, plunged by another 35 paise to Rs48.28 against the US dollar.
Meanwhile, the Indian benchmark Sensex tanked over 682 points in early trade on selling-spree amid the melting in global stock markets.
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First Published: Wed, Oct 08 2008. 10 44 AM IST