Indian rupee drops for second day

MUMBAI: The Indian rupee fell to within sight of a record low on Tuesday after Standard & Poor's said there was a more than one-in-three chance of a ratings downgrade for the country and as fears of a war in the Middle East roiled global markets.

Suspected central bank intervention below 68 per dollar levels, however, helped the rupee recover marginally to close at 67.63/64 per dollar, still down 2.4 percent from Monday's close of 66.00/01.