Rupee hits 57.32 against US Dollar

The rupee hit 57.32 marks on Thursday. This level is very close to rupee’s all time low of 57.32 it had hit 11 months back. As per the traders, increased demand for the American currency from importers and a weak opening in the domestic equity market also put pressure on the rupee.

The rupee had lost 29 paisa, its biggest single day fall in a week, to reach to this lowest level against the dollar yesterday as importers bought dollars amid renewed concerns over withdrawal of US monetary stimulus.Meanwhile, the BSE benchmark Sensex fell by 136.61 points, or 0.70 per cent, at 19,431.61.

The rupee resumed lower at 56.80 per dollar as against yesterday’s closing level of 56.73 at the Interbank Foreign Exchange (Forex) market. It had last touched 57.00 level against the dollar on June 28, 2012.

Analysts have opined that the Oil prices were showing a mixed trend in Asia today, with traders treading carefully ahead of Chinese trade and industrial production data.