Rupee plunges to another all-time low

The slide in the Indian rupee continued Tuesday, dropping to another all-time low at 53.21 per dollar intra-day due to fears over a slowdown in the domestic economy and cascading effect of the sovereign debt crisis in Eurozone.

The Indian currency had dropped to 52.84 to a dollar Monday after data on industrial output that reported a decline of 5.1 percent in October, worse that what industry and experts had earlier feared.