Markets

Indian rupee drops for second day

Published September 3, 2013 Updated September 3, 2013 11:58am

1 min

By Muhammad Iqbal

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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.

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