Wednesday 14 December 2011
Rupee dropped to another record low versus the dollar
Rupee dropped to another record low versus the dollar on Thursday as concerns heightened slowing domestic growth will spur further capital outflows.
The partially convertible rupee hit an all-time low of 54.30 per dollar in early trading, taking losses to about 4 percent this week.
Asian markets fell for a third straight session and the euro sat at 11-month lows Thursday on growing doubts over last week's European debt deal as Germany warned the crisis would last for years.
And data in Japan highlighted the impact of the European crisis on the country's economy as the closely watched Tankan survey showed most manufacturers were pessimistic about the future.
Tokyo was 1.32 percent lower by the break, Hong Kong fell 2.36 percent, Sydney was 1.75 percent lower, Seoul shed 1.79 percent and Shanghai lost 1.55 percent.
The partially convertible rupee hit an all-time low of 54.30 per dollar in early trading, taking losses to about 4 percent this week.
Asian markets fell for a third straight session and the euro sat at 11-month lows Thursday on growing doubts over last week's European debt deal as Germany warned the crisis would last for years.
And data in Japan highlighted the impact of the European crisis on the country's economy as the closely watched Tankan survey showed most manufacturers were pessimistic about the future.
Tokyo was 1.32 percent lower by the break, Hong Kong fell 2.36 percent, Sydney was 1.75 percent lower, Seoul shed 1.79 percent and Shanghai lost 1.55 percent.
