Re plunges to fresh low of 55.70 Vs dollar

Updated - May 23, 2012 at 11:59 AM.

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The rupee continued with its downslide on Wednesday morning, opening at 55.68 against the dollar. The local currency had closed at 55.39 per dollar on Tuesday.

Sustained demand for the dollar by oil importers, foreign institutional investors and corporates have accelerated the rupee fall.

The domestic unit had been depreciating for the past five days. Currently, it was trading at 55.85 per dollar.

Published on May 23, 2012 06:29