Indian rupee declined by 20 paise to hit 11-month low of 56.60 against US dollar in early trade today. It put a tremendous pressure amid the increased demand for the American currency.
According to few analysts, the domestic currency is likely to hit an all-time low in a few weeks. Rupee was 56.47 against dollar at 09.19 a.m.
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Meanwhile, the BSE Sensex fell by 150.27 points, or 0.74 per cent, at 20,065.13.
The rupee had lost 21 paise to hit 10-month low of 56.38 against the dollar yesterday after RBI Governor D Subbarao expressed his concern over inflation. He said that the RBI will take into account macro-economic factors for policy decisions.