Rupee tumbles, closes at 64.11

Mumbai: The rupee on Wednesday continued its free fall, plunging to 64.54 against the dollar for the first time ever before recovering some ground to end at 64.11, still down a staggering 86 paise to a fresh closing low. The currency’s slide continued amid steps by the RBI on Tuesday to increase availability of cash in the banking system. Heavy dollar demand from importers, continued capital outflows also weighed on the currency. (PTI)