Rupee drops to all-time record low of 61.51 vs dollar
business 13:22
New Delhi, August 6: The Indian rupee dropped to an all-time record low of 61.51 per dollar in the late morning session on fresh dollar demand from banks and importers amid weakness of dollar in the overseas market and fall in the equity market.
The rupee on Tuesday resumed lower at 61.05 per dollar as against the last closing level of 60.88 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to an all-time record low of 61.51 per dollar before quoting at 61.43 at 1030 hrs.
The intra-day lowest of 61.21 was recorded on 8th July 2013.
Fresh dollar demand from banks and importers in view of fall in the equity market mainly affected the rupee value against the dollar, a forex dealer said.
The Indian benchmark Sensex dropped by 194.44 points or 1.01 percent at 18,987.82 at 1030hrs.
In New York, the dollar fell broadly on Monday as a better-than-expected reading on activity in the US service sector failed to overcome last weeks below-consensus report on job growth in the US and its implications for a slowing of Federal Reserve stimulus.
The rupee on Tuesday resumed lower at 61.05 per dollar as against the last closing level of 60.88 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to an all-time record low of 61.51 per dollar before quoting at 61.43 at 1030 hrs.The intra-day lowest of 61.21 was recorded on 8th July 2013.
Fresh dollar demand from banks and importers in view of fall in the equity market mainly affected the rupee value against the dollar, a forex dealer said.
The Indian benchmark Sensex dropped by 194.44 points or 1.01 percent at 18,987.82 at 1030hrs.
In New York, the dollar fell broadly on Monday as a better-than-expected reading on activity in the US service sector failed to overcome last weeks below-consensus report on job growth in the US and its implications for a slowing of Federal Reserve stimulus.
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on 13:22.
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