TH:Rupee plummets to 55.14 on uncertainty over US fiscal cliff
The Indian unit was trading lower at 55.14 due to weaker Asian markets and domestic equity markets.
Breaching the 55-level mark, the rupee plunged to 55.10 against the dollar in the opening trade today on the back of growing uncertainty over the US fiscal cliff. On Thursday, the rupee had closed at 54.85 per dollar.
Investors were worried with the delay in resolving the fiscal cliff crisis and hence were staying away from investments in the risky assets.
Also, month-end dollar demand from importers will continue to put pressure on the rupee.
