Rupee crashes to new low at 55.82 vs dollar in early trade

Rupee Dollar
Interbank Rupee rate Vs US Dollar
66.887United States Dollar
Mumbai, May 23: Continuing its losing streak for the sixth session in a row, the rupee today lost 43 paise to touch a fresh low of 55.82 against the US dollar in early trade due to increased capital outflows amid a strong demand for the American currency by importers, especially oil refiners.

The local currency, which had plunged to an all-time low of 55.39 yesterday, crashed to 55.82 at the Interbank Foreign Exchange market in early trade.

Forex dealers said apart from the dollar's gains against the euro and other currencies overseas on renewed euro-zone debt worries, a weak opening in the equity market and increased demand for the American currency from importers mainly kept the rupee under pressure.

Meanwhile, the BSE benchmark Sensex was being quoted down by 84.18 points, or 0.53 per cent, at 15.942.23 in early trade.


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