NEW DELHI: The Indian rupee on Monday crossed the 95 per dollar mark for the first time, hitting 95.2 against the US dollar, down 0.3 per cent. It ended at a record closing low of 94.83 per dollar, compared to Friday's close of 94.81.
The currency has depreciated by 4.4 per cent against the US dollar in the March quarter.
The rupee, which had opened on a strong note after the Reserve Bank of India (RBI) reduced the net open position limit that banks can keep overnight to $100 million, erased its gains and fell 160 paise from its opening level. Moreover, the rupee fell about 1 per cent last week, its fourth consecutive weekly decline of a similar magnitude to hit a record low of 94.84 against the dollar. (IANS)
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