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Rupee hits new low of 58.35

New Delhi, June 11: Moving from bad to worse, the rupee onTuesday fell by 19 paise to hit a new all-time low of 58.35 against the US dollar in early trade on the Interbank Foreign

PTI [ Updated: June 11, 2013 10:00 IST ]
rupee hits new low of 58.35
rupee hits new low of 58.35

New Delhi, June 11: Moving from bad to worse, the rupee onTuesday fell by 19 paise to hit a new all-time low of 58.35 against the US dollar in early trade on the Interbank Foreign Exchange on heavy capital outflows amid high current account deficit.




Forex dealers said besides strong dollar's demand from banks and importers, firming dollar against other currencies on the back of strong economic data, mainly put pressure on the domestic unit.

The rupee sank by a staggering 110 paise to close at its lifetime low of 58.16 against the dollar on Monday. The local unit has fell over nine per cent in the past six weeks.

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