Date:23/10/2008 URL: http://www.thehindu.com/2008/10/23/stories/2008102356161800.htm

Business

Rupee tumbles

MUMBAI: The Indian rupee tumbled on Wednesday to end at Rs. 49.30/31 on fresh dollar demand from banks amid concerns about capital outflows. In fairly active trade at the inter-bank foreign exchange market, the rupee resumed sharply lower at 49.20/22 from its previous close of 49.00/01 a dollar and later hit a low of 49.50/51.

How it recovered partly to close at 49.30/31. — PTI