Indian rupee continued to decline and crossed 57-mark on Friday against US dollar. The local currency hit an all-time low of 57.16 in morning, which may put the country at risk in global trade.
Earlier on Friday, the rupee was at 56.90. It had opened at 56.80 against dollar from its previous close of 56.30 on Thursday. However, it further declined to 57.16.
Indian currency has been falling continuously in past few months as demand for dollar increased from banks and importers. Even Reserve Bank of India's decision to keep repo rates unchanged has also put pressure on the rupee.
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