The Indian Rupee has hit a record low against the US dollar, despite recent efforts to prop up the currency. Earlier this week, India's central bank put further restrictions on the amount of money that companies as well as individuals can send out of the country. Well, that had little impact and the Rupee fell to 62.03 to the dollar. India's economy has seen a sharp decline in recent months, largely because of a slowdown in its manufacturing and services sectors.

 

The central bank of Switzerland says the loan it granted to bailout troubled bank UBS five years ago has been repaid. Now, the development means UBS can now buy back the once toxic assets taken out of the bank at the height of the financial crisis. These assets, worth over 42 billion dollars at the time of the bailout, have since become profitable. UBS is Switzerland's largest bank and says it plans to buy the assets back.