Rupee breaches all-time lows, ends at 52.83 against dollar

Mangalore Today / NDTV

Mumbai, Dec 12: The Indian rupee has closed at a record low, falling 1.5 per cent to breach the intra-day low of 52.73 against the dollar Monday. It closed at a record low of 52.83 against the dollar today.

 

 

 A plunge in industrial output, that ended in the negative zone for the first time since June 2009 affected sentiments. Fears of capital outflows following weak economic data also hurt the currency.

On the global front, the euro dipped in Asia after the European Union fell short of a convincing plan to resolve the debt crisis. The weakness in Euro further added to the pressure on the Rupee. The Euro weakened below 1.33/$ after ratings agency Moody’s warned of EU downgrades.