P.V.Anandpadmanabhan

 

The rupee hit its lowest since May 6 at 60.23 against dollar, after government showed wholesale price inflation surged to a five month high. At 12.50 pm, the rupee was at 60.20 versus its close of 59.76 on Friday.  

 

The rupee was already trading weaker since it opened, as surging crude oil prices threatened to push up domestic inflation pressures and aggravate the country's current account deficit.