Rupee at its Historic Low: 53.51/USD

Tuesday, December 13th, 2011 | by

The Indian rupee reached a historic low of Rs 53.51 per US dollar in early trade on Tuesday. Decline was said to be because of weak domestic equity markets and increased demand for dollar.

Finance minister Pranab Mukherjee attributed the weakness in Indian economy to global recession. “Recession in Europe is a real threat to the global economic stability,” he said. “We have taken actions. there may be some setbacks. Nothing new. We are in a coalition government, that is not easy to run. NDA government also had to suffer” he added.

Opposition BJP expressed concern over the continued devaluation of the Indian rupee.

“Why is the Indian rupee being devalued at a high rate every day? There has not been such an unprecedented fall in the value of the rupee…such a fast devaluation ever in the history of the nation,” said Yashwant Sinha, BJP leader.

‘Price of Rupee’ is a discussion  topic in social networking websites too. “Rs 53.29” has been a trending topic in Twitter since morning, when value of rupee was in the stated range.

A few tweets about the fall of Rupee in Twitter:

Faking New: Rupee falls to 53.40/US dollar. Now waiting for jokes on whether it will reach 100 before Sachin.

@BogusOperandi: How people must be wishing that Rs 53.29 is the price of petrol per litre!

@twittdoc: Rupee plunges to all time low against dollar at Rs 53.29 but still marginally above Rahul Dravid’s Test career average of 53.22 !!

Barbarian Indian: The Rupee seems to be depreciating at the rate of 10 paise per hour.

Ramesh Srivat: The #rupee is feeling so low now that Rahul Gandhi is planning to pay a visit to it.

Sanjeev: Lack of governance and incompetence is reflecting on the economy. Stock markets down, rupee down….

Geetansh Malhotra: Rupee falls to 53.29/US dollar. Now waiting for jokes on whether it will reach 100 before Sachin.

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2 Responses to Rupee at its Historic Low: 53.51/USD

  1. Padmakumar G Nair

    Historic LOW!!!!  and History Repeats…  so we will wake up to see the Rupee touching a new low every morning.

    Anyhow for the rich politicians who have invested in billions in US and other rich nations have a lot to cheer about……..

  2. Anonymous

    Congratulations Rahul and UPA for this historical acheivement

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