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Rupee hits 57.10; moves closer to lifetime low of 57.32

 Rupee hits 57.10; moves closer to lifetime low of 57.32
The rupee witnessed a sharp fall in trade today, but recovered later as some banks reportedly sold dollars. The rupee was last trading at 57.02 to the rupee at 2.10 pm.

Today's falls means the rupee is now closer to its lifetime low of Rs 57.32, and there are fears that it might be breached sometime next week.

The rupee has been one of the worst performing Asian currencies in June.

A large current account deficit, on account of sizeable gold and crude imports has pushed the rupee lower against the dollar. The government has been taking steps to curb gold imports through various measures.

Equities too remained volatile ahead of the US jobs data, with most of the Asian markets trading sharply lower.

Read more about: dollar
Story first published: Friday, June 7, 2013, 14:18 [IST]
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