Indian rupee hits record low

The Indian rupee slumped to a record low against the US dollar this week. Of all the emerging market currencies, only the South African rand and the Turkish lira have performed worse in 2011.

The Indian rupee slumped to a record low beyond 52 to one US dollar this week. It has declined by almost 20% against the greenback since early August and by 15% throughout this year. Of all the emerging market currencies, only the South African rand and the Turkish lira have performed worse in 2011.

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