Rupee hits record-low of 170.60 per dollar

Reuters: The rupee slumped to yet another all-time low on Monday, as a broadly stronger dollar and selling in Government securities left the local currency vulnerable for further losses, market sources said.

The currency hit 170.60 per dollar, the fourth straight session of record lows, going below the previous nadir of 170.40 hit on Friday. It closed at 170.25/30 per dollar on Friday.

The rupee has weakened 0.9% against the dollar so far this month, building on the 4.7% loss in September. It has declined 11.15% so far this year.