India s Rupee suffers record low

Sunday, 18 August 2013 - 8:12


Indias premier ruled out any suggestion the country could suffer a repeat of its 1991 balance-of-payments crisis as it grapples with a plunging rupee and a huge trade gap.


Prime Minister Manmohan Singh spoke a day after Indias currency hit a new low of 62.03 rupees to the dollar and stocks posted their sharpest single-day fall in nearly two years.


Singh was finance minister in 1991 and was credited with overcoming the deep economic crisis.