Rupee slips below 63 against dollar

Mumbai  :  The Indian rupee hit another record low Monday slipping below 63 against a dollar for the first time, on continued weakness in equities markets.

The partially convertible rupee slipped to a new record low of 63.22 against a dollar at the inter-bank foreign exchange market here, surpassing its previous record low of 62.03 hit on Aug 16.

The rupee ended the day at a record low of 63.13 against its previous session’s close at 61.65 against a dollar.

The Indian currency has hit new lows thrice in the past two weeks despite a series of measures announced by the government to curb current account deficit and revive economic growth.

Photo  : AFP