Rupee touches new all-time low; at Rs. 60.51/dollar

Rupee is getting weaker as the demand of dollar is increasing with the month-end closing. Due to heavy demand of dollar from importers, Rupee has attained a new all time low at Rs 60.51 per dollar.

With the value of Rs 59.73, market opened on Wednesday and it was expected that Rupee will grow a bit due to the intervention of Reserve Bank of India. Despite that that Rupee did fall and attained Rs 60.25 just in the mid-day.

This is the all-time low value of rupee. As the day progresses, Currency dealers expected that Rupee will be under Rs 60.5. But proving that wrong, Rupee has exceeded the mark and seems to fall more.

As to the experts, they expect that Rupee will fall even more and RBI can’t take any major steps to recover rupee. This is the straight sixth day that rupee is weakening due to huge dollar demand from importers.