Re breaches 61 level to hit new life-time low

July 08, 2013 10:20

The rupee today fell by a massive 97 paise to breach the 61-mark to 61.19, a new all-time low, against the dollar in early trade at the Interbank Foreign Exchange market, on heavy demand for the American currency amid capital outflows.

Forex dealers said dollar firming up against other currencies in overseas markets, mainly put pressure on the domestic currency to touch an all-time low. The local currency had plunged to 60.76 intraday on June 26.

The rupee had declined by nine paise to 60.22 on Friday and the fresh fall was led by a steep rise in crude oil prices which surged over USD 100 in overseas markets.

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