MUMBAI: The rupee hit an all-time low against the dollar for the fifth successive trading day on Tuesday amid concern about slowing domestic growth and continuing global uncertainty.
The Indian unit fell to 55.20, below its previous record low of 55.05 a day earlier, as demand for the US currency grew.
The partially-convertible rupee opened on Tuesday slightly higher on improved global risk appetite, but steady dollar buying pushed the Indian currency down.
While Europe's debt crisis is a major concern, the rupee has also been affected by several domestic problems including India's widening trade and current account deficits and declining foreign fund inflows.
