Rupee tumbles 31 paise

Mumbai, Nov. 8: The rupee plunged by 31 paise on Friday to 71.28 against the US dollar, the lowest level since October 16, after Moody's cut India's rating outlook to negative. On weekly basis, the rupee has weakened by 47 paise against the greenback. The rupee came under more pressure tracking subdued sentiment in domestic equity market and stronger dollar against key rivals.

The yield on benchmark 10-year bonds rose five basis points, the most in a month, to 6.56 per cent.

The Sensex halted its record-setting rally, dropping 330 points after scaling a new high the previous day. —FC Bureau