R slide continues, hits 53.7/$ | business | Hindustan Times
Today in New Delhi, India
Dec 09, 2016-Friday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

R slide continues, hits 53.7/$

business Updated: Dec 14, 2011 21:10 IST
HT Correspondent
HT Correspondent
Hindustan Times
Highlight Story

Rupee-versus-dollar

The rupee-dollar equation plumbed new depths on Wednesday, touching an intra-day low of Rs 53.75 to a dollar before settling at Rs 53.71. This is the third succesive day that the rupee has hit a new all-time low vis-à-vis the dollar.

“The inflow of dollars is limited and import bills are going up – our imports are nearly double our exports. This 20% depreciation in the rupee is hurting the economy and nobody knows where it will stop,” said Raghvendra Nath, MD, Ladderup Wealth Management.