Mumbai: The rupee on Friday breached 57-mark against US dollar to a new record low. Hitting its lowest since a record low against the dollar on May 31, the Indian currency fell as demand for dollar increased from banks and importers.
The RBI's decision to keep rates unchanged has also put pressure on the rupee.
On Thursday, the rupee had plunged to Rs 56.87 against the US dollar on increased capital outflows and rising demand from importers for the American currency.
Besides, strengthening of dollar against the euro had also put pressure on the local unit.
The rupee had on Wednesday also hit an all-time low of Rs 56.57 intra-day, before the Reserve Bank intervened to help the local currency recover some ground. It had ended 15 paise down at 56.30.
Comments
0 comment