Rupee slides 5% in May; trades at 56.54 to the dollar

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, May 31, 2013, 9:12 [IST]

The rupee has slid another 16 paise in trade today and was last trading at 56.54 to the dollar, as against 56.38 on Thursday.

With the current price of the rupee to the dollar, the fall in the rupee has been 5% in the month of May, which should set alarm bells ringing.

Dealers say the government is likely to remain worried over the sharp fall and the RBI might announce some measures to prop the rupee.

GDP numbers are awaited for the quarter ending March 2013 and a ugly number could send the rupee into a tailspin again.

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