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Rupee Hits All-time Low on Global Financial Crisis

  •   Fri, Oct 10 2008 10:46:14 AM

Reuters

Mumbai, Oct 10: The Indian rupee fell to a record low past 49.07 per dollar on Friday as the spreading global financial crisis hurt sentiment in Asian stocks markets, leading to concerns of a large outflow of foreign funds from India.

At 9:08 am (0338 GMT), the partially convertible rupee was at 49.10 per dollar according to Reuters data, compared with Wednesday's close of 47.99/48.01 per dollar. The currency market was shut on Thursday due to a local holiday.

The previous all-time low was 49.07 hit in May 2002. 

  

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