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Rupee falls to an all time low against the dollar
2011 india round-up
By CJ: Ravi Juneja | Views: 4305 | Comments: 0
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Indian rupee is at the all time low against the US dollar. At one stage in December 2011, it sunk to the Rs. 54.24 against 1 dollar. In 2010 value of one dollar against Indian currency was just above Rs. 45 and since the start of 2011; Indian currency fell about 14 per cent. According to the global rating agency - Moody, the rapid decline in rupee will impact oil companies and it may also increase the debt servicing cost of companies with foreign currency debt. In 2011, Indian currency is the worst performer among Asia's 10 most traded currencies.
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