The New Nation - Internet Edition

Reuters, Mumbai

The rupee fell to a record low past 49.07 per dollar on Friday as the spreading global financial crisis hurt sentiment in Asian stock markets, leading to concerns of a large outflow of foreign funds from India. At 9:08 a.m., the partially convertible rupee was at 49.10 per dollar according to Reuters data, compared with Wednesday's close of 47.99/48.01 per dollar. The currency market was shut on Thursday due to a local holiday. The previous all-time low was 49.07 hit in May 2002.