Rupee slid to an over four-month low on Thursday (03 May 2012) as India's policy uncertainty and worsening economic fundamentals are sparking concerns a rout is in the making, one that the central bank will be unable to prevent.
Rupee fell to a low of 53.47 to the dollar, a level last seen on Dec 29, 2011, before pulling back to close at 53.41/42 levels. It had closed at 52.96/97 on Wednesday.