Rupee hits lifetime low; Moody’s downgrades banks

PUBLISHED ON: June 22, 2012 | Duration: 5 min, 38 sec

   
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The rupee on Friday fell to an all-time low of 57.33 to the dollar after risk assets were hit by heightened concerns about the world economy. Ratings agency Moody's downgraded 15 of the world's biggest banks, lowering credit ratings by one to three notches to reflect the risk they face from volatile capital markets activities.
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