The rupee continued to sink once again in trade today inching toward its previous record of 68.81 to the dollar. It was last trading at 68.60, a sharp drop of almost 100 paise over Tuesday's close.
The rupee witnessed a sharp fall on Tuesday of almost 2 per cent and is showing no signs of slowing despite a slew of measures by the RBI. Late last month the RBI opened up forex swaps for oil marketing companies meeting their requirements separately.
Dealers say that with the Syrian military strike still hanging in the air and the impending tapering-off of stimulus in the US would continue to keep the rupee volatile.
There has also been no much intervention by the RBI and it would be interesting to see what new RBI governor Raghuram Rajan does to battle the falling rupee. Check rupee rates here
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