Rupee weakens further hovers around 57/dlr

The rupee weakened further on Monday, erasing all of the session's gains and heading towards a record low, as measures to boost the economy and the currency announced by the RBI widely disappointed investors.

(Read the main story: New measures to boost rupee disappoint markets, click http://in.reuters.com/article/2012/06/25/india-rupee-govt-bonds-limit-idINDEE85O07Q20120625)

At 4:26 p.m., the partially convertible rupee was at 57.0925/1050 per dollar, just off its Friday close of 57.12/13, and not far off the record low of 57.32.

India took a handful of measures on Monday to support the embattled rupee, but disappointed investors who had been hoping for bolder action to prop up the currency.

(Also read: Expert views on measures announced to boost the economy, click http://in.reuters.com/article/2012/06/25/india-rupee-steps-instant-view-idINDEE85O07X20120625)