The Indian rupee fell to a record closing low on Friday, posting its worst week in 22 months, raising concerns the RBIis losing the battle to prop up the currency while the government has yet to take any meaningful measures to bring in inflows.
The rupee weakened ahead of key US employment data, which will help shape expectations about when the Federal Reservewill start tapering down its monetary stimulus.
The currency fell 3.4 per cent this week, and is below the levels at which it was trading on July 15 when the Reserve Bank of India unveiled its cash tightening steps to defend the currency.
The partially convertible rupee closed at 61.10/11 per dollar Friday.