Rupee hits record low below 52.50/USD
On 12 December the Indian currency slid past 52.2 against the US dollar. It was an all-time low against the US dollar of rupee in history.
This is the weakest the rupee has been since it was allowed to float against the dollar in the early 1990s. The rupee is down about 14 per cent this year and recently hit a lifetime low.
The Reserve Bank of India (RBI) Governor D. Subbarao said " I can't comment whether the RBI is intervening or not but we are watching the market."