Indian Rupee falls to record low of Rs 53.29 per US Dollar

The Indian rupee tumbled by 35 paise to an all-time low of Rs. 53.29 per US dollar in early trade on the Interbank Foreign Exchange on Tuesday on continued demand for the American currency from banks and importers, coupled with news of negative growth in industrial output in October. Dollar gains against other currencies overseas amid euro zone debt concerns also put pressure on the Indian rupee, the Indian official news agency (PTI) reported today. The domestic currency had tumbled by 81 paise to close at a record low of Rs. 52.84/85 per dollar in the previous session on strong demand for the American currency and strengthening of the dollar against its rivals overseas. Meanwhile, the BSE benchmark Sensex fell by 60.98 points, or 0.38 per cent, to 15,809.37 in opening trade today.