TimesOfIndia – Rupee Hits Record Low, Posts Biggest Fall In Nearly 18 Years – 27 August 2013

Times Of India

MUMBAI: The rupee hit a record low on Tuesday and posted its biggest single-day fall in nearly 18 years after the lower house of Parliament approved a nearly $20 billion plan to provide cheap grain to the poor, raising concerns the fiscal deficit will blow out even further.

The partially convertible rupee closed at 66.24/25 per dollar after hitting a record low of 66.30, and down 2.9 per cent from its close of 64.30/31 on Monday.

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