Crubs on foreign inflows hits rupee

The rupee slipped to its lowest level in over a month in early trades after the government yesterday stepped in to check foreign currency inflows by putting up stiff restrictions on overseas borrowings.

The rupee tumbled to an early low of 40.83/$, but since then has recovered most of its lost ground and 1020 hrs was quoted at 40.61/$ as against yesterday's close of 40.42/$.