Rupee slumps to 28-month low...Stocks plunge, Dollar jumps

The rupee plummeted to a new two-year low against the US dollar on Thursday on the back of relentless selloff in global equities and Asian currencies.


Also, the dollar climbed to a seven-month highs against major currencies after the Federal Reserve said that there were significant downside risks to the economy.




The partially convertible Indian currency ended at 49.5750 to the dollar after being as low as 49.58, its lowest since May 2009. It touched a day's high of 48.6775.


It had opened at 48.8050 as against the previous close of 48.3350.


The Indian currency is down more than 8% in the July to September quarter, the second-worst performance in emerging-market Asia after the won.


The BSE Sensex was trading closed at 16,361, down 704 points or 4.1% over the last close. It had earlier touched a day's low of 16,316 and a day's high of 16,833. It opened at 16,827.

The NSE Nifty on the other hand was quoting at 4,923, down 209 points or 4% after touching a high of 5,059 and a low of 4,907. It opened at 5,054.