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1-min read

Rupee hits record low of 58.35; further losses likely

Traders will watch out for any RBI intervention to prevent the rupee from weakening further.

Reuters

Updated:June 11, 2013, 9:17 AM IST
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Rupee hits record low of 58.35; further losses likely
Traders will watch out for any RBI intervention to prevent the rupee from weakening further.

Mumbai: The rupee opened at a record low on Tuesday tracking weakness in most other Asian currencies while an expected fall in the domestic share market is also likely to weigh.

At 9:02 am (0332 GMT), the partially convertible rupee was at 58.35/38 per dollar, a life low and weaker than its previous close of 58.15/16.

Traders will watch out for any RBI intervention to prevent the rupee from weakening further.

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