Rupee tumbles to hit life-time low! Currency nears the 90 per dollar mark; what does it mean?
Rupee on Tuesday tumbled 42 paise to close at an all-time low of 89.95 against the US dollar, extending its depreciation streak and edging closer to the crucial 90-per-dollar mark.So far, the rupee has depreciated by over 4% this year, falling 0.8% in November alone.This slump was mainly driven by speculators covering their short positions…