New Delhi: Rupee dropped to a record low Monday and touched Rs.61.21 against a dollar.
Later in the day, it recovered a bit and was trading at Rs.61.03 against a dollar.
This fall was sparked off by expectations raised by US jobs data that the US Federal Reserve would ease its stimulus measures within a few months.
The rupee, emerging Asia's worst performer this year, is likely to remain weak after stronger-than-expected U.S. jobs data on Friday cemented bets the Federal Reserve will wind down its quantitative easing (QE), sparking outflows from emerging markets.
At the same time, a spike in oil prices - with Brent crude futures hitting a more than three-month high on Monday - is aggravating concerns about India's current account deficit.
