Rupee falls to new record low at early trade

MUMBAI: The Indian currency slipped to a new record low in today's early trading session almost immediately on the international risk aversion. At 9.05 am, the partially convertible rupee stood at 56.12/13 per US Dollar, after touching a record low of 56.24 in early trade.

The Rupee had closed at 55.9950/56.0050 in the previous trading session. Traders are waiting for the effect of India's petrol price rise on the local equities for further direction.

The Reserve Bank of India (RBI) had intervened Wednesday.

Meanwhile, Finance Minister Pranab Mukherjee stated that he is not happy to witness that the fluctuation of the Rupee against the US Dollar is rising. He said, “Sensex and Nifty figures are also disappointing. Brent crude price has also moved up, and the quantum of India’s imports is quite substantial, around $160 – 170 bn.”