A day after closing at a record low of 54.50 against the dollar, the rupee today slid further to 54.60 intra-day as capital outflows continued but suspected RBI intervention cushioned against a steeper fall and it closed at 54.47.
At the forex market, the domestic unit on Thursday resumed higher at 54.40 a dollar. However, fall in stocks amid dollar demand, later pushed the rupee to an all-time low of 54.60.
Reserve Bank of India (RBI) is believed to have intervened helping the domestic currency close at 54.47.
On Wednesday, the rupee had tumbled by 70 paise or 1.30 per cent to record its lowest close as RBI action to control the domestic unit’s fall proved futile.
The BSE benchmark Sensex, which dropped nearly 300 points yesterday, was up by over 210 points in late morning trade and finally closed 40 points higher on Thursday.
