Rupee slumps to new record low of 64.25 against dollar

The Indian rupee Wednesday continued in the free-fall mode hitting a new record low of 64.25 against a dollar, despite interventions from the central bank and the government.

The rupee has touched new lows for the fourth session in a row.

The partially-convertible rupee slipped to a new record low of 64.25 against a dollar at the inter-bank foreign exchange market here, surpassing its previous record low of 64.13 hit Tuesday.

The rupee had recovered and closed at 63.25 against a dollar Tuesday after the central bank's interventions in the currency markets.