INR

93.065

United States Dollar

The rupee tumbled almost 5 per cent in May and was threatening to collapse on Tuesday, but, dealers say the RBI sold dollars through PSU banks which helped support the rupee.

In May the rupee fell almost 5 per cent, as a general strength in the Dollar against major currencies, saw the Indian rupee also lose ground.

Large scale selling by foreign funds in the debt market also saw some effect in the forex market, as dealers say there could be some dollar outflow on account of the huge selling pressure.

Meanwhile, Indian stock markets opened marginally lower in line with most other Asian markets.

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