The rupee breached the 47 level mark against the dollar in intraday trade on Friday before recovering some of its losses. The rupee depreciated by more than 20 paise against the greenback tracking the global equity markets which crashed following the Dubai World debt crisis. The domestic currency opened weaker at46.88 and weakened to touch an intraday low of47.07. It recovered to close at 46.67 against the previous close of 46.46.
Indian Share Market Tips
The rupee opened with a negative gap as global equity indices crached after news that Dubai World a Dubai Government owned holding company asked creditors for an extension of six months on debt repayments.
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