Rupee tumbles 92 paise Vs dollar in early trade
Sep 04 2013 , Mumbai
Dealers said heavy capital outflows amid reports that S&P sees more than one-in-three chance of a downgrade of the country's rating and dollar's gain against some overseas currencies on upbeat economic data weighed on the domestic unit.
Besides, concerns over a record high current account deficit and rising crude prices in the global market were other factors behind rupees slide, they said.
However, a higher opening in the domestic equity market after yesterday's steep fall, capped the rupee's decline, they said.
The rupee fell by a whopping 163 paise to close at 67.63 on concern that a build-up of tension over Syria would push oil prices higher and result in a costlier import bill.
Meanwhile, the BSE benchmark Sensex recovered by 161.31 points, or 0.88 per cent, at 18,395.97 in early trade today.