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Rupee at all time low of 60.33

This article was posted on Jun 26, 2013 and is filed under Market News

NEW DELHI: Continuing its falling streak, the rupee on Wednesday breached the 60 level versus the US dollar, an all-time low for the currency. At 15:00, it was Asia’s worst performing currency for the day.

The Reserve Bank of India ( RBI) was again spotted selling dollars in the afternoon after the rupee matched its record low of 59.9850 hit last week, four dealers said. The central bank is being widely seen as trying to protect the psychological 60 to a dollar mark, they said.

In the morning, rupee fell by 23 paise to 59.89 against the US currency on month-end dollar demand from importers, coupled with firm global cues.

Persistent capital outflows from foreign funds also affected the rupee value against the dollar, forex dealers said.

For more visit: Economic times

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