Rupee hits another low; slips to 62.45 against dollar

Mumbai, Aug 19 (IANS) The Indian rupee hit a new low Monday slipping to 62.45 against a dollar, on continued weakness in equities markets.

The partially convertible rupee slipped to a new record low of 62.45 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 was quoted at 62.36 at 12.07 Indian time against its last week's close at 61.65 against a dollar.

The Indian currency has hit new record 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.

Weakness continued in the equities markets as well. The benchmark Sensex of the Bombay Stock Exchange (BSE) was trading 316 points down after tumbling by nearly four percent in the previous session.

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