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Rupee hovers at 57.26 against US Dollar

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TNI Bureau: Indian rupee hit a record low of 57.26 against the US dollar on Friday afternoon indicating the rising demand for US currency in global trade. The continuous decline of Indian currency in past few months is not a good sign for the investors.

The local currency opened at 56.80 from its previous close of 56.30 on Thursday. It had declined all time low of 56.57 in trade yesterday.

Analysing the continuous decline, analysts assumed the domestic currency may fall at around 57 or 58 against US dollar in June end.

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