Rupee falls to record low, trading below 62.80 per dollar The rupee fell to a record low on Monday and looked poised for further losses, with a series of measures unveiled last week failing to stall its decline. The currency fell as far as 62.85 to the dollar, breaching the previous low of 62.03 hit on Friday. Some dealers are expecting further dollar selling by the RBI as well as other measures to prop up a currency that is down over 10 percent in 2013, making it the worst performer in emerging Asia. Traders seemed unconvinced about the efficacy of steps unveiled last week to contain the current account deficit at 3.7 percent of gross domestic product (GDP) during the current fiscal year, sharply lower than the record high 4.8 percent in the previous year. "Forex intervention will con tinue by the central bank. Further measures are expected from the RBI but are unlikely to be effective. The rupee is expected to touch 63 in no time," said Param Sarma, chief exec...
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