Rupee breaches 50-mark against dollar.

Press Trust of India MUMBAI,Oct. 24: TheIndian rupee today breached the crucial 50-level against the greenback on sustained dollar purchases by foreign banks and stronger dollar overseas. The rupee tumbled to 50.05 level after resuming weak at 50.00/01 a dollar ahead of the ReserveBanks mid-term review of monetary policy later in the day. In quiet trade at the interbank foreign exchange (forex)market, the domestic currency moved between 49.93 and 50.05 in the initial 30 minutes of trading. Foreign exchange dealers said melting stock markets also influenced the rupee movement. On Wednesday, the government eased norms for overseas borrowing by Indian companies to boost …