MUMBAI: After slumping to a new record low of 61.19 against the dollar in early trade, the rupee on Monday recovered a bit to 61.04 in late morning deals on Suspected intervention by the Reserve Bank.
The local currency commenced the day's trade at an all-time low level of 61.19 against the dollar at the Interbank Foreign Exchange market and hovered in a range of 61.19 and 60.80. It was trading at 61.04 at 1040 hours, down 82 paise, or 1.36 per cent, from Friday's closing level.
Forex dealers said there was some dollar selling by public sector, banks on the behest of RBI.
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