Rupee hits all-time low on global crisis

The Indian rupee fell to a record low past 49.07 per dollar on Friday as the spreading global financial crisis hurt sentiment in Asian sto

ck markets, leading to concerns of a large outflow of foreign funds India.

At 9:08 a.m. (0338 GMT), the partially convertible rupee was at 49.10 per dollar according to Reuters data, compared with Wednesday's close of 47.99/48.01 per dollar. The currency market was shut on Thursday due to a local holiday.

The previous all-time low was 49.07 hit in May 2002.
Source: - ET