Headlines: Rupee Slides To Another Record Low, Hits 83.08 Against US Dollar

The rupee hit a new record low of 83.08 against a resurgent dollar early on Thursday, after breaching the 83-mark for the first time ever in the previous session as investor concerns about an impending recession reduced risk appetite. Bloomberg quoted the rupee at 83.0925 per dollar after opening at 82.9825 and hitting a new record low of 83.1212. PTI reported that the rupee fell 6 paise to a new all-time low of 83.06 against the US dollar in early trade. In the previous see-saw session, the domestic currency had reversed sharp gains from earlier on Wednesday to close at its weakest level of 83.02 per dollar, driven by the Reserve Bank of India likely buying dollars at about 82 in currency futures to buffer up its capacity to intervene.

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