Rupee opens all-time low at 49.68 against USD

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Mumbai, Oct 23: The rupee on Thursday, Oct 23 opened to an all-time low at 49.68 against US dollar, with a big loss of 29 paise, from the previous day's close of 49.31 on fresh speculative demand for dollar from foreign banks and others coupled with sharp falls in Asian shares which heightened fears of more capital outflows from the local stock market.

Later, the partially-convertible rupee was fluctuating in a narrow range between 49.60 and 49.85 per dollar in an intra-day trade. Dealers said ''Rupee fell to a record low in this morning's session as expectations of further outflows from the share market weighed and arbitrage between onshore and offshore markets also hurt.''

UNI

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