Rupee falls to new record low; euro gives up gains

May 21, 2012 |

Reuters

mumbai

Tags:

Ruppe

The rupee fell to an all-time low of 54.93 to the dollar on Monday, marking its fourth consecutive record low in as many sessions, as the euro retreated from the day's highs and as global risk sentiment remained weak.

Traders said corporate dollar demand and oil and defence-related dollar buying also weighed on the currency.

At 4.11 pm, the partially convertible rupee was at 54.91/92 per dollar, sharply below its Friday's close of 54.42/44.

Traders saw no signs of RBI intervention in the currency market so far in this session.

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