Rupee hits 57 versus dollar; no sight of RBI yet

Jun 22, 2012 |

Reuters

mumbai

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The rupee weakened beyond the psychologically important 57 per dollar mark on Friday, hitting a record low for a second consecutive session, with traders seeing no signs of any RBI intervention yet.

At 11.55 am, the partially convertible rupee was at 57.03/57.05 per dollar, after hitting a record low at 57.04.

Broad gains in the dollar versus major currencies on the back of global risk aversion and weakness in domestic shares weighed on the rupee.

Dollar buying from oil firms and gold importers added to the downward pressure, traders said.

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