OUR BUREAU, THE HINDU BUSINESS LINE
MUMBAI, MAY 30:
The rupee opened weak on Wednesday morning at 56 to the dollar. It had closed at 55.67 on Tuesday evening.
The rupee was trading at 56.04 against the dollar in the noon session.
The domestic unit tested new lows last week when it came to 56.38 before pulling back on suspected RBI intervention.
Government sources had indicated to Business Line that policy tools may be used to hold the rupee at close to Rs 53-54/$. The rupee has depreciated 25 per cent against the dollar since a year ago.
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