Indian rupee continues decline for 3rd consecutive trading session

MUMBAI: For the third trading session, Indian rupee slipped to a record low as compared to the US Dollar since risk aversion made a comeback with euro slipping to a four-month low.

According to reports, the rupee was last trading at 54.67/68, breaching its earlier all-time low of 54.60 hit yesterday. In today's early trade, it fell to 54.71. In the last one year, the Indian currency has declined 20% value.

Meanwhile, India's central bank -the Reserve Bank of India (RBI) – made no intervention yesterday and said that it would only intervene to control volatility not the market direction.