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Rupee falls to record low of 51.76/dollar

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Reuters

Posted: Mar 02, 2009 at 0953 hrs IST
Rupee

Mumbai The Indian rupee extended its drop to hit a record low of 52 against the dollar on Monday on heightened concerns of rising foreign funds outflows while arbitrage play between the onshore and offshore markets hurt.

At 9:51 a.m., the partially convertible rupee was at 51.76/79 per dollar. It had closed at 51.10/12 on Friday.

The rupee traded at 52 per dollar according to Reuters data, which dealers said was a miss hit and the deal could be reversed with the counter-party later in the day. They said the low was around 51.8 per dollar.

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