In its biggest single-day fall since September 2011, the Indian rupee plunged to a record new low on Monday, slipping below the 63-level mark against the US dollar on speculation that an improving American economy would prompt the US Federal Reserve to scale back its multi-billion-dollar stimulus much earlier than expected.
After hitting an all-time low of 63.30 against the dollar, the Indian currency finally closed the day at 63.13 per dollar, down 2.40 per cent, as several measures taken by the Reserve Bank in recent weeks to prop it up failed to revive market sentiments.
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About Deccan Chronicle : Deccan Chronicle is an Indian English-language daily newspaper. It is published in Hyderabad, India by Deccan Chronicle Holdings Limited. The newspaper's name derives from the originating place, the Deccan regions of India. Deccan Chronicle is also published from Tamil Nadu, Karnataka and Kerala. Supplements are "TV Guide", "Sunday Chronicle", "Hyderabad Chronicle", "Chennai Chronicle", "Bengaluru Chronicle" and "Kerala Chronicle". It also supplies other weekly features like "School Chronicle" and "Teen Chronicle". The newspaper has a total readership of over 10.88 lakhs.
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