Rupee hits 5-month low, falls below 54 per $

Mumbai: The rupee fell below 54/$ on Wednesday after risk assets continued to be beaten down on worries about the future of the euro zone after Greece failed to form a government.

The rupee was at 54.10-54.11/$ in early trade versus its Tuesday close of 53.79. That left it in sight of the 54.15 low hit on Monday and the 54.30 record low hit in December.

Dealers will closely watch for any central bank intervention to protect the level.