Mumbai, Dec 15 (PTI): The Indian rupee fell by 46 paise to a record low of Rs 54.17 per U.S. dollar in early trade on Thursday, breaching the Rs 54 per dollar-mark for the first time in history on sustained foreign capital outflows and dollar gains against the euro and other rivals overseas.
The domestic currency had tumbled by 48 paise to close at a record low of Rs 53.71/72 per dollar in the previous session on strong demand for the American currency and strengthening of the dollar against its rivals overseas.
Forex dealers said in addition to continued demand for the American currency from importers and some banks, dollar gains against the euro and other currencies amid concerns over the euro zone debt crisis put pressure on the Indian rupee.
Meanwhile, the BSE benchmark Sensex fell by 158.51 points, or 1 per cent, to 15,722.63 in opening trade today.
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ISMAIL.K.PERINJE, PERINJE-YANBU/KSA
Thu, Dec 15 2011Indian economy first time ever under pressure due to global melt down and Euro Zone debt in particular.It may be a passing cloud and under certain circumstance our Balance of payment will widen.All import will cost more including fuel which may fuel inflation domestically.On the other hand foreign based education,tour etc etc will cost more which in turn people may reconsider or opt for in India only.On the flip side IT industry and export will be cheaper which may boost performance of EXPORT INDUSTRIES.These versatile fluctuations in Currency far reaching effect if not settle down in long run.India really feeling the heat of GLOBAL RECESSION.
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