Rupee hits record low of 60.25 against dollar

www.mangaloretoday.com

New Delhi, June 26, 2013: The Indian rupee fell below the psychological mark of 60 on Wednesday, breaching the previously record low of 59.98 hit last week. The slide in the rupee came despite reports of suspected intervention by the Reserve Bank of India.

The partially convertible rupee traded at 60.25 at 3.04 p.m. against Tuesday’s close at 59.66/67 per dollar.

The central bank reportedly sold dollars when the currency hit a low of 59.98.

Earlier, Reuters said quoting dealers that the RBI had sold dollars via state-run banks starting when the rupee breached above 59.90 levels.