Rupee hits new record low of 54.82 per dollar

May 18, 2012 |

mumbai

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The rupee on Friday tumbled by 35 paise to trade at a new all-time time low of Rs 54.82 against the US dollar in early trade on increased capital outflows and strong demand from importers for the American currency.

Traders said apart from capital outflows by foreign funds, strengthening of dollar against the euro, which plunged to a four-month low following renewed worries over deepening eurozone debt crisis, put pressure on the rupee.

On Thursday, rupee had touched an intra-day record low of 54.60 before settling at Rs 54.47 against the US dollar.

Meanwhile, the BSE benchmark Sensex plunged by 231.97 points, or 1.44 per cent, to 15,838.51 points in early trade on Friday.

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