Rupee hits all-time low of 57.37 against dollar
Posted on: 09:24 AM IST Jun 10, 2013
Indian rupee hit a new record low of 57.37 on Monday morning trade, after opening at 57.25 per dollar on Monday as against Friday's closing of 57.06 a dollar.
Earlier, it had hit touched an all-time low of 57.32 per dollar in June 2012.
Agam Gupta of Standard Chartered Bank feels strong non farm payroll data could further support dollar strengthening.
According to him, there is an expectation of RBI intervention, to cool off the market by supplying dollars on higher rupee levels. "The range for the day is seen between 57.10-57.50/USD,"