India’s rupee fell to a new record low of 55.09 to the dollar, its fifth consecutive all-time low, as arbitrage measures taken by the RBI late on Monday provided only a brief sentiment boost.
At 10:05 am, the partially convertible rupee traded at 54.95/00 per dollar, rebounding from the record low and strengthening from its close of 55.03/04 on Monday.
Traders said some exporters were selling dollars in the market, limiting a steeper fall, but the overall bias is still towards a weaker rupee.
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