Agence France-PresseJune 10, 2013 10:37
India's rupee slid to a record low against the dollar Monday as dealers moved into the US currency following robust US jobs data and growing concern about the South Asian nation's struggling economy.
The partially convertible Indian currency traded at a new low of 58.05 rupees to the dollar on Monday afternoon, sweeping past its previous low of 57.32 rupees hit on June 28.
"This is a freefall," Abhishek Goenka, chief executive of consultancy firm India Forex Advisors, told AFP.
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