Rupee near record low against the dollar; RBI intervention eyed

MUMBAI: The rupee fell on Thursday, coming close to a record low against the dollar, as risk assets fell on disappointment about the scope of US Federal Reserve's bond purchases and after HSBC factory data from China showed a contraction.

Traders are on watch for any potential intervention from the RBI to defend the currency.

At 9.06 a.m., the rupee was at 56.34/38 to the dollar versus its 56.15/16 close on Wednesday. It fell to 56.45 in early trade, close to its record low of 56.52 hit on May 31.

Local stocks are also expected to open negative tracking regional cues with MSCI's Asia ex-Japan index down 1.1 percent.