Rupee slumps to new low at 58.35; down 19 p Vs USD in early trade

Mumbai, PTI | Updated : 11 June 2013, 10:59 AM

Moving from bad to worse, the rupee on Tuesday fell by 19 paise to hit a new all-time low of 58.35 against the US dollar in early trade on the Interbank Foreign Exchange on heavy capital outflows amid high current account deficit.

Forex dealers said besides strong dollar's demand frombanks and importers, firming dollar against other currencies on the back of strong economic data, mainly put pressure on the domestic unit.

The rupee sank by a staggering 110 paise to close at its life-time low of 58.16 against the dollar yesterday. The local unit has fell over nine per cent in the past six weeks.

Meanwhile, the BSE benchmark Sensex fell by 77.45 points,or 0.40 per cent, at 19,363.62 in early trade today. 

First Published: Tuesday, June 11, 2013 10:56 AM
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