Bhubaneswar: The Indian rupee continued to sink further to 53.51 per one US dollar as it was at 53.10 per dollar on Tuesday at the Interbank Foreign Exchange (Forex) market.

Experts say that the continous fall of rupee is due to deteriorating conditions in the European Economic Markets as many investors pull out money from Europe and Emerging markets such as India as the importers, mainly oil compaines have been agressively buying the dollar.

“If the weak run of the global economy continues then the rupee may depreciate against the US dollar further up to Rs 55 level by March next year”, said industry chamber Assocham.

“The Government will make efforts to bring some reforms in the unbalanced economy”, said Finance Minister Pranab Mukherjee.