Rupee tumbles to nearly 2-yr low of Rs 48.01
The rupee resumed lower at Rs 47.80/81 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 47.59/60 per dollar, and dropped further to a nearly 2-year low of 48.01 per dollar before quoting at 47.85/86 per dollar at 1030 hours.
The domestic currency had last closed below this level at Rs 48.10/11 per dollar on September 29, 2009.
Sustained dollar demand from banks and importers on the back of a higher dollar in overseas markets mainly affected the rupee value against the dollar, a forex dealer said.
The US dollar rose against its rivals in the Sydney market today, with investors turning to the greenback as Europe`s debt troubles continued to give global asset markets the shivers.