Indian rupee hits new record low against dollar

Posted on :December 15, 2011
Dollar , indian rupree , INR
Comments Off

The Indian rupee sank to arecord low for the fourth day in a row on Thursday as investorsgrew increasingly bearish about the outlook for both thedomestic and global economies, raising the prospect of furthercapital outflows from emerging markets.

The rupee snapped back to 53.6250 from a fresh record low of 54.3050.

The rupee’s freefall has fired up import costs, posing a fresh challenge to the government in its bid to bring down inflation which is currently running at close to 10 percent.