Continuing its slide against the US dollar for the seventh day in a row, the rupee hit a new record low of 56.38 in late morning trade today.
A firm demand for the American currency from importers and continued capital outflows in view of Greece’s debt crisis pulled the rupee down.
The rupee resumed lower at 56.20 per dollar against yesterday’s closing level of 56 and dropped further to an all-time low of 56.38 per dollar at 10.45 am.