Asian currencies, including the Indian rupee, fell today on concerns that the debt issues in the US and Europe will threaten the global economic growth.

The Indian rupee slumped today on concerns that the nation’s current-account deficit would widen as India’s central bank blocked dollar or euro payments for Iranian oil.

The Indian rupee dropped to the lowest level in almost seven weeks against the US dollar today after the reports showed that the industrial production grew with the slower pace, causing the concern that the foreign capital inflows would dwindle.

The Indian rupee, together with other Asian currencies, rose today on the speculation that the increasing capital inflows from the global funds in the region’s economy would allow the Asian countries to profit from Asia’s fast economic growth.

The Indian rupee gained today as the investors’ confidence in the currency was highest since May 2009 after the unprecedented $25 billion of the capital inflows into the nation’s equities.

The Indian rupee rose today after the central bank increased the interest rates for the fourth time this year, raising the yield on local assets.

The Indian rupee went down today after Moody’s Investors Service reduced Greece’s credit rating, refueling the concerns that the problems in Europe will slow the global economic recovery.

The Indian rupee fell as importers, particularly the nation’s refiners, increased the buying of the U.S. dollar to pay for increasingly costlier overseas purchases, utilizing the U.S. currency’s strength.

The Indian rupee declined against the U.S. dollar today showing the second bearish day as the country’s parliament elections aren’t easily predictable about the actual winner that will form the new government.

The Indian rupee declined against the U.S. dollar today, almost reaching a new record-low level, as the domestic companies converted to dollars in order to pay for the imported goods.