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Rupee falls to weakest since Nov 2006

Rupee falls to weakest since Nov 2006
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First Published: Thu, Sep 11 2008. 09 59 AM IST
Updated: Thu, Sep 11 2008. 09 59 AM IST
Mumbai: The Indian rupee fell to its lowest in nearly two years on Thursday as the dollar strengthened against the euro while a sell-off in Asian stocks raised worries of more outflows from the local share market.
At 9:17 am, the partially convertible rupee was at Rs45.41/45 per dollar, its weakest since November 24, 2006 and compared with Rs45.12/13 at close on Wednesday.
The dollar advanced to a new one-year high against the euro on Thursday as the market’s focus reverted to sluggish economic prospects outside the United States and away from concerns about the US financial system.
Asian stocks fell broadly, with Tokyo’s Nikkei share average slipping 1.2% and Hong Kong’s Hang Seng down nearly 2.2%.
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First Published: Thu, Sep 11 2008. 09 59 AM IST
More Topics: India | Rupee | Fall | Money Matters | Currency |