Rupee trimmed its early losses but was still quoted lower by 83 paise, at 59 rupees, 53 paise per dollar after hitting a record 60-level on strong demand for the American currency from banks and importers amidst sharp fall in equity market. Persistent capital outflows from foreign funds also affected the market sentiment.
The rupee resumed lower at 59 rupees, 50 paise per dollar against the last closing level of 58 rupees, 70 paise per dollar at Interbank Foreign Exchange Forex Market.