Indian rupee falls to 57 against dollar

New Delhi  : The rupee on Thursday breached the 57 mark against the dollar for the first time since June, 28, 2012, approaching a record low hit nearly a year earlier as fears of an end to the US Federal Reserve’s monetary stimulus sent the dollar higher and hit local shares.

Speaking on the sidelines of a banking event, Deputy Governor of the Reserve Bank of India, K.C. Chakrabarty said that India will do everything to minimise volatility in the foreign exchange market. Increase of import duty on gold by the government by a third to 8 percent failed to support the rupee.

Photo   :  AFP