The rupee on Friday tumbled by 35 paise to trade at a new record low of Rs 54.82 against the U.S. dollar in early trade on increased capital outflows and strong demand from importers for the American currency.
Traders said apart from capital outflows by foreign funds, strengthening of dollar against the euro, which plunged to a four-month low following renewed worries over deepening eurozone debt crisis, put pressure on the rupee.
Yesterday, rupee had touched an intra-day record low of 54.60 before settling at Rs 54.47 against the U.S. dollar.
Meanwhile, the BSE benchmark Sensex plunged by 231.97 points, or 1.44 per cent, to 15,838.51 points in early trade today.
Indian economic situation warrants immediate and urgent austerity
measures on the lines of the one undertaken by France under Hollande.Our
politicians glamour for more salary and perks.social security measures
eat into the budget of both the Union and State governments. In this
scenario,the news that Indian rupee hits new low against US dollars come
as no surprise.
So a complete BackGround has been created to Justify Petrol/Deisel Prices
Forex : Re hits new all-time low of 54.82 vs dollar:: Who is getting
benefit? Why Government not taking any action!!
120 crore people should think ? Who is getting benefit? because of this
rupee fall ? Why government is not acting correctly to stop the fall?
May be some business men related to political leaders getting
benefit………………………………..What we can do?
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