Weak Asian stocks drop Rupee to Rs45/dlr

Weak Asian stocks drop Rupee to Rs45/dlr
Comment E-mail Print Share
First Published: Wed, Sep 10 2008. 10 06 AM IST
Updated: Wed, Sep 10 2008. 10 06 AM IST
Mumbai: The Indian rupee fell to Rs45 per dollar on Wednesday, a near two-year low, as losses in Asian markets fuelled concerns of more foreign fund outflows from the local share market.
At 9:51 am, the partially convertible rupee was at Rs44.99/Rs45.02 per dollar, its weakest since November 21, 2006 and lower than Rs44.84/85 at close on Tuesday.
At its low, the rupee had fallen 0.62% this week, taking losses in September to 2.2%. It is down 12.3% in 2008 after gaining more than 12% last year.
Asian stocks fell more than 1% on Wednesday, hurt by financial shares ahead of results from Lehman Brothers, which has been rocked by the same crisis that led Washington to take over Fannie Mae and Freddie Mac this week.
Comment E-mail Print Share
First Published: Wed, Sep 10 2008. 10 06 AM IST
More Topics: India | Rupee | Fall | Asian Stocks | Markets |