Rupee opens at 6-year low of 48.85 per US dollar

Mumbai, Oct 10: On Friday, Oct 10 Indian rupee declined by 85 paise to open at nearly six-year low of 48.85 against US dollar, from its last finish of 48.00 following the spreading global crisis. Later, the partially-convertible rupee was trading in the range between 48.70 and 49.35 per dollar during the session, dealers added.

Dealers said the Indian rupee fell as the spreading global financial crisis hurt sentiment in Asian stock markets, leading to concerns of a large outflow of foreign funds from India.

UNI