Re hits all-time low of 49.68 against $

The Indian rupee today touched an all-time low of 49.68 against the greenback in early trade following increased dollar demand from importers and capital outflows by foreign funds.

At the Interbank Foreign Exchange (Forex) market, the local currency, which closed at 49.31 against a dollar yesterday, fell by 38 paise on sustained dollar demand and appreciation of the US dollar against major currencies amid weak Asian markets.