Rupee hits record low of 58/dollar; down 1.6 percent on day

FII Inflows

The rupee extended its fall to a record low of 58 per dollar on Monday, hurt by broad global gains by the U.S. currency and weaker domestic shares.

The dollar gained broadly following weak Chinese data and reasonably healthy U.S. jobs data, which renewed expectations the Federal Reserve might curb its asset purchases later this year.

The Rupee was trading at 57.95/96 per dollar as of 3:54 p.m., after hitting a low of 58.00, a 1.6 percent fall from its Friday’s close of 57.06/07.