The Falling Rupee

Currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash

Rupee hits all-time low versus dollar

The rupee hit a record low against the dollar, breaching 54.30 vs the dollar, succumbing to the steep risk aversion hitting global markets and highlighting the vulnerabilities of the country.  Full Article | Related Story 

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Yoga instructor Tao Porchon-Lynch leads a class in Hartsdale, New York, May 14, 2012. REUTERS/Keith Bedford

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MUMBAI, June 4 | Fri Jun 4, 2010 9:22am IST

MUMBAI, June 4 (Reuters) - Shares in Reliance Communications (RLCM.BO) dropped more than 3 percent on Friday, after South Africa's MTN Group (MTNJ.J) said it was not in talks with the Indian mobile carrier about a tie-up. Reliance Communications shares were down 2.1 percent at 161.05 rupees by 0344 GMT, having fallen as much as 3.3 percent earlier, while the main Mumbai market .BSESN was down 0.3 percent. The shares in India's No. 2 mobile operator had risen 18 percent in the last two days on newspaper reports the company was in talks with MTN for a possible merger and that it was also considering a stake sale. (Reporting by Sumeet Chatterjee; Editing by Ranjit Gangadharan)

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