Rupee plunges further

Mumbai : The Indian rupee continued to slide Tuesday. It dropped to another all-time low of 53.21 per dollar , due to fears over a slowdown in the domestic economy and cascading effect of the sovereign debt crisis in the eurozone.

The Indian currency had dropped to 52.84 to a dollar Monday . This drop is being attributed to data on industrial output that reported a decline of 5.1 percent in October, worse than what industry and experts had earlier feared.

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.