Rupee Dips to Record as Reserve Bank of India Weighs Action
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India’s rupee fell to a record, prompting the central bank to say it’s weighing action to stem the worst performance in Asia this year.
The rupee weakened 0.3 percent to 52.3225 per dollar in Mumbai, bringing its decline in 2011 to 14.6 percent. The BSE India Sensitive Index of shares tumbled 22 percent in the period as investors sold emerging market assets on concern the U.S. and Europe will struggle to curb deficits.