Pranab to address Parliament on rupee

Earlier in the day, RBI said that central bank was closely watching the rupee

Finance minister Pranab Mukherjee will address lawmakers at 2 pm on Wednesday and is likely to make a statement on the rupee, sources told reporters.

Earlier, RBI deputy governor H.R. Khan said the central bank was closely watching the rupee, and will take all steps to curb volatility.

The partially convertible rupee hit a life time low of 54.46 to dollar earlier in the day, at which point it was down 1.2% from Tuesday's close of 53.79. In recent deals, it was trading at 54.41.