Rupee loses 46 paise to breach Rs54 per dollar mark

Forex dealers said in addition to continued demand for the American currency from importers and some banks, dollar gains against the euro and other currencies amid concerns over the Eurozone debt crisis put pressure on the Indian rupee

Mumbai: The Indian rupee fell by 46 paise to a record low of Rs54.17 per US dollar in early trade today, breaching the Rs54 per dollar mark for the first time in history on sustained foreign capital outflows and dollar gains against the euro and other rivals overseas, reports PTI.

The rupee has been making new lows this week as investors are worried about the slowdown here and across the world, which has resulted in pull-out of funds by institutional investors. The Reserve Bank of India’s (RBI) steps to curb the outflows seems to have no effect, analysts pointed.

The domestic currency had tumbled by 48 paise to close at a record low of Rs53.71/72 per dollar in the previous session on strong demand for the American currency and strengthening of the dollar against its rivals overseas.

Forex dealers said in addition to continued demand for the American currency from importers and some banks, dollar gains against the euro and other currencies amid concerns over the Eurozone debt crisis put pressure on the Indian rupee.

Meanwhile, the BSE benchmark Sensex fell by 142 points to 15,739 in opening trade today. Similarly, the SNP CNX Nifty opened 50 points lower at 4,713.

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