Indian rupee hits new all-time low of 57.54 per dollar
Moneylife Digital Team 10 June 2013

The rupee has been falling for five straight weeks, taking its losses since the start of May to 5.71%, to make it among the worst performing currencies in Asia during this period

The rupee breached its all-time low of 57.32 against dollar in early trade today. It traded at 57.52 against Friday's close of 57.06/07 as of 09.28 am. The Indian currency had earlier hit a low of 57.54 against the greenback.

 

The rupee has been falling sharply since the start of May on concerns that the US Federal Reserve may withdraw its monetary stimulus and the Reserve Bank of India (RBI) may not reduce key rates as much as previously anticipated.

 

The rupee has been falling for five straight weeks, taking its losses since the start of May to 5.71%, to make it among the worst performing currencies in Asia during this period.

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