Carnage in the local share markets led the rupee to fall below 62-mark for the first time in the historic to an intra-day low of 62.03 before recovering some ground on suspected intervention by the apex bank to record its an all-time closing low of at 61.65 - still showing a fall of 22 paise - against the Greenback, despite recent actions taken by the RBI to stem the rupee volatility.
Dealers attributed the rupee also on account of some better-than-expected US economic data, heightening fears that the Federal Reserve might slow down its bond-buying programme since September 13.
Sustained dollar demand from importers, mainly oil refiners, and some bank amid firm dollar overseas also weighed on the rupee, a forex dealer said.
At the Interbank Foreign Exchange (Forex) market, the domestic unit resumed better at 61.35 a dollar from 61.43 and improved further to a high of 61.32.
Later, bloodbath in the local equities pulled it down to a fresh all-time low of 62.03 before recovering some ground on likely intrusion of the RBI to log closing low of 61.65, still showing a fall of 22 paise, or 0.36 pct.
The Indian benchmark Sensex today tanked by almost 770 points - biggest fall in last four years- as FIIs withdrew Rs 563.23 crore on Friday as per provisional data with stock exchanges.
To restrict the outflow of foreign currency, the RBI had on August 14 announced stern measures, including curbs on Indian firms investing abroad and on outward remittances by resident Indians. The Finance Ministry, however, said measures taken by the RBI on Wednesday cannot be called capital control measures and they had more to do with reducing stress on the balance sheets of corporates.
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