Rupee hits record low of 56.55 against dollar

By IANS,

Mumbai : The Indian rupee slumped to a record low of 56.55 against a dollar Thursday due to increased demand for the American currency by exporters and weak cues from the stock markets.

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The partially convertible rupee fell to record low of 56.55 against a dollar at around 1.20 p.m. at the Interbank Foreign Exchange market, down 0.7 percent from its previous day close.

The previous record low of the rupee was 56.52 against a dollar recorded early this month.