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Rupee falls to record low, ends at 63.13 vs $

Rupee falls  to record low, ends  at 63.13 vs $
Highlights

Compounding the country’s economic woes, the rupee on Monday crossed 63-mark against dollar to close at record low of 63.13. In the process, the...

New Delhi (Agencies): Compounding the country’s economic woes, the rupee on Monday crossed 63-mark against dollar to close at record low of 63.13. In the process, the Indian currency registered the decade's worst single-day fall of 148 paise, heightening fears among investors that more capital control steps could be in the offing.

Battered by heavy demand for dollars and fall in stocks markets, the rupee fell to historic intra-day low of 63.30. At the Interbank Foreign Exchange (Forex) market, the rupee opened sharply lower at 62.30 a dollar from its previous close of 61.65 but tried to recover later to a high of 62.21.
Rupee again turned negative and finally ended at 63.13, logging a fall of a massive 148 paise or 2.40 per cent.
The previous biggest fall in decade was the 124 paise or 2.57 per cent plunge on September 22, 2011.

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