The spot rupee fell 0.5% to 140.00 per dollar earlier in the day, from Friday’s close of 139.30/50. The previous record low of 139.30 was hit on Friday.
“Still we see pressure from importer side,” a currency dealer said asking not to be named. “We still see a weaker rupee and it is likely to fall further.”
Another currency dealer confirmed that the rupee touched a fresh trough of 140.00 per dollar before the intervention from the State bank.
Officials from the central bank were not immediately available for comment.
Some dealers said imports of vehicles might slow down ahead of the next year budget scheduled in November, but imports of fast moving goods would continue as usual.