Recession effect to last 10 years: Report

Yesterday, the rupee tumbled by 66 paise to close at nearly a 14-month low of Rs 47.22/23 against the US currency amid a steep fall in the stock market and a surge in the dollar value against other major currency rivals.Forex dealers said dollar weakness against the euro and other Asian currencies overseas and a higher opening in the domestic stock market helped the rupee's rise today following six consecutive sessions of decline.Meanwhile, the Bombay Stock Exchange Sensex gained 180.04 points, or 1.09 per cent, to 16,681.78 points in opening trade today. [More]