Rupee Hits All Time Low ( 57.12)

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The Indian Rupee fell 57.32 against the dollar on Friday (22nd June 2012) on strong demand for the American currency from oil importers, increased capital outflows and concerns over slowdown in global economic growth. Our rupee surpassed previous records in the five-day long losing streak and tumbled Re 1, over 1.6 percent from previous close to 57.32 per dollar in mid-session trade on the forex markets. The rupee has depreciated nearly 3 percent so far this week, its biggest weekly fall since September 23.