The rupee on Monday tumbled to an all-time low of 55.04 against dollar due to increased demand for the American currency from banks and importers.
The local unit resumed lower at 54.70 a dollar at the Interbank Foreign Exchange (Forex) Market and plunged to a new all—time low of 55.04 against the US dollar at 1655 hours.
Forex dealers said fresh dollar demand from banks and particularly, month-end demand from oil importers despite weakness of the dollar in the overseas market pulled down the rupee.
