India Behind The Lens (News Centre)

New Delhi, (ANI): The rupee fell to as low as 54.36 to the dollar today, breaching its previous record low of 54.30 set in December. Succumbing to the steep risk aversion hitting global markets, the fall highlights the vulnerabilities of India, which is currently facing challenging fiscal and economic outlooks. The rupee has fallen nearly 10 percent since its 2012 peak in February due to concerns about India's current account and fiscal deficits. The rupee was further undermined by controversial government proposals for taxes on foreign investment. Adding salt to the wound, the BSE Sensex fell below the 16,000 level for the first time in four months in the mid- session trade.