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This is the weakest level of rupee recorded so far. The earlier record low of 54.30 against the dollar was hit in December last year. It has slumped almost 10 per cent since March, the biggest fall among the major Asian currencies.

"The new government (in Bengal) had generated huge aspirations among all sections. But we are not very happy," Assocham Secretary General D.S. Rawat said.
The Index of Industrial Production (IIP) declined by 3.5 per cent in March 2012, as against a growth of 9.4 per cent in the same month last year.
Succumbing to US pressure, India has decided to cut crude oil import from Iran by over 11 per cent this fiscal to 15.5 million tons.
The rupee resumed weak past 54-mark at 54.05/06 from overnight close of 53.96/97 and logged its second lowest intra-day trade at 54.15.
Industrial output (IIP) shrunk 3.5 per cent in March of 2011-12 due to poor show of manufacturing and mining sectors, dampening hopes of an early revival of growth.