Rupee down to 48.40 per dollar

Reuters
Posted: 2008-10-15 09:21:00+05:30 IST
Updated: Oct 15, 2008 at 0921 hrs IST

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Rupee near record low at 50.35 per dollar Rupee at all time low of 50.50 vs dollar Rupee falls to 50/dlr, lowest since Oct 27 Rupee heads towards 50-mark

The rupee fell sharply on Wednesday on expectations of a weaker start for local shares following falls in Asian markets, which could lead to further foreign fund outflows.

At 9:04 a.m., the partially convertible rupee was at 48.40 per dollar, compared with Tuesday's close of 48.04/06.

The overnight cash rate was at 9.75/10.00 per cent, higher than the previous close of 8.75/9.0 per cent. Dealers expect cash conditions to tighten if the central bank were to sell dollars to check the rupee's fall.

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Rupee down to 48.40 per dollar

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