The Indian rupee continued its downward fall on Wednesday with the currency falling 57 paise against the US dollars. It tanked to a record low of Rs 53.80 per US dollar on increased demand for the American currency from banks and importers and sustained foreign capital outflows amid an
economic slowdown.
Dollar gains against the euro and other currency rivals overseas amid the lingering euro zone debt crisis put pressure on the Indian rupee, forex dealers said.
PERSPECTIVE: What's pulling the Rupee down now?In addition, continued foreign capital outflows amid a slowdown of the domestic economy contributed to the weak rupee sentiment, they said.
MUST READ: Rupee fall - Will RBI intervene Furthermore, increased demand for the US currency from importers and banks led to the fall in the rupee value in early trade, the forex dealers added.
SPECIAL:
Rupee falls 13% in three months The domestic currency had depreciated by 39 paise to close at Rs 53.23/24 per dollar in the previous session after witnessing an all-time low of Rs 53.51 as the dollar strengthened in markets worldwide.
Meanwhile, the
BSE benchmark Sensex recovered by 65.19 points, or 0.41 per cent, to 15,937.32 in opening trade on Wednesday.
With PTI inputs 
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