Rupee hits record low, falls below 58.50/$

Indian rupee fell to a life-time low of 58.50/USD on the back of weakness of the other Asian currencies. Traders are on the lookout for any intervention from the Reserve Bank of India.

June 11, 2013 / 11:08 IST

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 9:46 am, the partially convertible rupee hit 58.50/USD, a life low and weaker than its previous close of 58.15/16/USD.

Also read: Tips to fight the falling rupee

Traders will watch out for any Reserve Bank of India (RBI) intervention to prevent the rupee from weakening further.

first published: Jun 11, 2013 10:45 am

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