New Delhi : The Indian rupee sank to a record low for the fourth day in a row today hitting 54.30 against a dollar in early trade, as importers and investors continued to buy the US currency on speculation of further capital outflows amid gloomy economic outlook.
The Indian currency has weakened almost 20 percent against the dollar since July this year.
The rupee closed at 53.88 to a dollar yesterday .
Finance Minister Pranab Mukherjee blamed the huge capital outflow for the recent slide in rupee.
So far, the Reserve Bank of India has not made any significant intervention in the currency market to control the slide of rupee.