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Rupee tumbles to all-time low of 57.77 against dollar

This article was posted on Jun 10, 2013 and is filed under Market News

Mumbai: The rupee Monday fell by a whopping 71 paise to hit a new life-time low of 57.77 in trade on persistent dollar demand from importers and banks amid the US currency gaining overseas.

The rupee resumed lower at 57.18 against the dollar as against the last weekend’s level of 57.06 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to an all-time low of 57.77 per dollar.

This crosses its life-time closing low level of 57.32 touched in June-end last year.

However, it recovered slightly to 57.60 per dollar at 1100hrs, showing a loss of 54 paise from its last weekend’s level.

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