TI:Rupee touches all-time low, reaches 55 versus dollar
NEW DELHI: In a fresh blow to the rupee, the Indian currency hit a record low of 55 versus the US dollar on Monday. The rupee tested a key psychological level, as the euro retreated from the day's highs, while dollar demand from domestic oil firms and corporates also weighed.
At 4:26 p.m. (1056 GMT), the partially convertible rupee was at 54.96/97 per dollar. Moments earlier the currency had hit an all time low of 55, which marked a fall of more than 1 per cent from Friday's close of 54.42/44.
Traders said they had not spotted the central bank intervening in the market despite the sharp falls.
