The rupee recovered to 73.04 to a dollar after touching an all-time low on Wednesday, after State-run banks were spotted selling dollars on behalf of the RBI, currency dealers said.
The rupee touched an all-time low of 73.42 in early trade but recovered after the central bank's intervention. Post noon, it was down by 14 paisa from its previous close.
" The rupee has made a new record low today on the back of consistent rise in the crude oil prices. Sharp rise in the crude oil prices along with steep depreciation in the rupee might push inflation higher in coming months" said Rushabh Maru, Research Analyst, Anand Rathi Shares and Stock Brokers.