Rupee close to record lows; current account data eyed

The rupee weakened on Monday, hovering near a record low hit last week, as worries about China's economic and financial stability hit global risk assets, while caution prevailed ahead of current account deficit data due this week.

India is due to report January-March current account deficit data on Friday. The country's deficit has been a key source of stress on the rupee.

The rupee fell by 40 paise to 59.67 in early trade on the Interbank Foreign Exchange market, on fresh dollar demand, tracking strengthening of the US currency overseas.

Forex dealers said besides dollar gaining against other currencies in the global markets, a lower opening in the domestic equity market also, influenced the rupee.

The rupee had gained 30 paise to close at 59.27 against the dollar on Friday.

The BSE benchmark Sensex fell by 130.56 points, or 0.70%, to 18,643.68 in early trade today.