Rupee falls to record low, nears 55 per $

Mumbai: The rupee made a new low of 54.91 against $, marking its third consecutive record low in a row vs 54.49/50 last close. Traders say 55 is the next key psychological resistance, breaching it could spark deep concerns.

Global risk aversion weighing heavily on rupee; local shares down 1.2 percent.

Risk aversion made a strong comeback with Asian stocks showing deep cuts and euro falling to a four-month low.