R slide continues, hits 53.7/$ | business | Hindustan Times
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R slide continues, hits 53.7/$

business Updated: Dec 14, 2011 21:10 IST
HT Correspondent


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.