RTTN:Indian Rupee Slides To New Record Low Against U.S. Dollar
The Indian rupee extended its fall against the U.S. dollar in afternoon deals on Wednesday amid fall in regional stocks.
The investor sentiment was hurt ahead of Fed decision on interest rates and monetary policy. The U.S. central bank is widely expected to reaffirm its pledge to keep monetary policy accommodative at the end of a two-day policy meeting later today.
The rupee hit a new record low of 61.2250 against the greenback and held steady thereafter. The pair closed Tuesday's trading at 60.8155.
The Reserve Bank of India reportedly sold dollars to limit the rupee slide.
The rupee saw a sharp fall yesterday after Reserve bank of India's dovish stance deepened concerns about current account deficit and the economy.
The RBI Governor Subbarao and Finance Minister Chidambaram will speak shortly.
