Indian Rupee fell down to a record low of below Rs 81 on Friday even as Reserve Bank of India intervened to check further fall.
The partially convertible rupee closed at 80.99 per dollar against a previous close of 80.86. During the day, it fell to a record low of 81.2250 before the apex bank intervened, traders at the State-run banks said.
The currency posted its worst week since April last year, losing 1.6 per cent with most of the losses in the last two trading sessions. Actually, it is a difficult task to control the fall of the Rupee but the Reserve Bank of India does it in the interest of stabilizing the currency versus US dollar, said experts.
The dollar index has risen to a 2 decade high and risk assets have been battered since the US Federal Reserve on Wednesday night hiked interest rates to tackle inflation.
