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New all-time low for Indian rupee at 61
July 8, 2013, 9:30 am

[AP Images]

The rupee plunged to 60.76 within the day on June 26 [AP]

The Indian rupee has dipped to 61.19 against the dollar in early trade at the Interbank Foreign Exchange market, on heavy demand for the American currency amid capital outflows.

The strengthening of the dollar against other currencies in overseas markets put pressure on the domestic currency, said foreign exchange dealers.

Indian Prime Minister Manmohan Singh will meet industry leaders on July 29 to discuss the rupee fall and measures to correct a wide current account deficit, according to a government statement.

The rupee plunged to 60.76 within the day on June 26.

The Indian currency’s fresh fall was led by a steep rise in crude oil prices which surged over USD 100 in overseas markets.

Meanwhile, the BSE benchmark Sensex fell by 262.61 points, 1.35 per cent, to 19,233.21 in early trade on Monday.

Source: Agencies