The Indian rupee despite interventions from the central bank and the government continued in the free-fall mode, hitting a new record low of 64.52 against the US dollar at the Interbank Foreign Exchange market on Wednesday. The domestic currency, savaged by large dollar demands from banks and importers, has plunged to new lows for the fourth session in a row. The partially-convertible rupee slipped to a new record low of 64.52 against a dollar at the forex market, surpassing its previous record low of 64.13 hit on Tuesday. The rupee had recovered and closed at 63.25 against a dollar Tuesday after the Reserve Bank of India's (RBI) interventions in the currency markets. The Indian currency as well as equities markets witnessed nervous trading ahead of the US Federal Reserve report on stimulus policy. Key indices, including the benchmark Sensex and Nifty, witnessed extremely volatile trading on Wednesday and ended the day with loss of nearly two per cent. The 30-share Sensex closed 340.13 points, or 1.86 per cent, down at 17,905.91 points. The index has lost 1,450 points in the last four sessions.

Source