MARKET NEWS
Rupee declines to record low, cenbank intervention helps limit losses - REUTERS
MUMBAI, Nov 19 (Reuters) - The Indian rupee declined to its all-time low on Tuesday pressured by dollar demand from foreign banks and importers, while intervention by the Reserve Bank of India helped contain the currency's losses.
The rupee hit a low of 84.42 against the U.S. dollar, eclipsing its previous record low of 84.4125 hit last week. The currency closed at 84.4150, down slightly on the day.
Likely intervention by the Reserve Bank of India helped the currency avoid further losses with state-run banks spotted intermittently offering dollars, traders said.
