The value of the Indian rupee on Monday
fell below 52 against the US dollar for the first time in over two-and-a-half years as demand for the greenback by importers and investors rose amid a slump in the stock markets.
PERSPECTIVE: Why is the rupee falling?The partially convertible rupee slumped 1.3 per cent to
touch a low of 52.02 against the dollar, the lowest level since March 2009.
The India currency is now heading towards the all-time low of 52.19 against the dollar, which was touched in March 2009. The Indian currency has weakened almost 15 per cent in the last four months.
Defence payments weigh on rupee's value The increased demand of the dollar from importers, especially oil importers, slump in equities markets and continued concerns over inflationary pressure have led to the depreciation in the value of the Indian currency.
RBI not to intervene in Forex market: Subior Gokarn The Indian equities markets 30-share benchmark Sensex fell 2.60 per cent to
close below the psychological resistance level of 16,000 points mark for the first time in over one-and-half months.
The depreciation in the value of the rupee will make imports costlier and boost exports.
- With inputs from IANS 
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