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Rupee falls by 35 paise per US dollar on growth concerns amidst weak IIP data

Rupee falls by 35 paise per US dollar on growth concerns amidst weak IIP data

Continued demand for the American currency from banks and importers, coupled with news of negative growth in industrial output in October led to Rupee's fall.

Extending its losses against US dollars, the Indian rupee fell by 35 paise to an all-time low of Rs 53.29 per US dollar in early trade on the Interbank Foreign Exchange on Tuesday. Continued demand for the American currency from banks and importers, coupled with news of negative growth in industrial output in October led to Rupee's fall.

PERSPECTIVE:  Why is the rupee falling?

Dollar gains against other currencies overseas amid euro zone debt concerns also put pressure on the Indian rupee.

The domestic currency had tumbled by 81 paise to close at a record low of Rs 52.84/85 per dollar in the previous session on strong demand for the American currency and strengthening of the dollar against its rivals overseas.

Meanwhile, the BSE benchmark Sensex fell by 60.98 points, or 0.38 per cent, to 15,809.37 in opening trade on Tuesday.

With PTI inputs

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Published on: Dec 13, 2011, 10:24 AM IST
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