India News : Mumbai: Despite various steps taken by the Reserve Bank of India, the Indian rupee on Monday closed at a historic low of 63.13 against the dollar, dropping by 148 paise, the biggest single day drop in a decade.

During the day, it had touched a low of 63.22 before gaining some ground.

The rupee lost on heavy FII selling as the steps unveiled by the government last week seemed inadequate to stall the currency's fall.

Moreover, speculations that the US may roll back its economic stimulus package as early as next month and the weakness in global market had worsened the sentiment.


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