Rupee
falls after TMC pulls out from government
DATE: 20/09/2012
The rupee fell to its
lowest in nearly a week in early trades on Thursday as Trinamool Congress, key
ally of the Congress-led government, withdrew support in protest against the
diesel price hike and opening up the multi-brand retail sector.
The support withdrawal will put the
fate of the government in the hands of regional parties and put a question over
future reforms in sectors like pension and insurance.
At 09:05 a.m. local time, the rupee
was at 54.38/40 to the dollar as against 54.01/02 Tuesday close. It fell to
54.42, its lowest since September 14. The market was closed on Wednesday for a
religious holiday.
+POWERED BY: MONEY CONTROL NEWS
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