Rupee hits record low past 52.2 against US dollar

The Indian rupee slid past 52.2 against the dollar in early trade on Today, dropping to its lowest level in history, as broad gains in the dollar overseas and sustained demand from domestic oil refiners weighed.

At early trade, the partially convertible rupee was at 52.48/50 per dollar, after touching an all-time low of 52.50, and 0.6 percent weaker than its previous close of 52.1550/1650.

At the lowest point, the rupee has shed 16.5 percent from its 2011 high reached in late July.

The domestic currency had tumbled by 81 paise to close at a nearly 33-month low of Rs 52.15/16 per dollar in the previous session on sustained dollar demand from banks and importers in the backdrop of an eight-session losing streak in the stock market and a deepening euro-debt crisis.