Rupee hit a record low of 50.60 per Dollar

The rupee hit a record low of 50.60 per dollar on Thursday. At 11 am on Thursday the rupees dip further against the US dollar, rupee was at 50. 49/50 per dollar. While rupee was closed at 50.02/03 on on Wednesday. It was a record low of 50.50 in the early trade, while it was set a a record of 5.29 in late October this year. While the dip of the rupees was stopped due to the intervention by the state -run banks on behalf of the Reserve Bank of India (RBI).