Rupee sinks to record low of 57.76 against dollar

The Indian rupee breached its all-time low of 57.32 against dollar in early trade on Monday. It traded at 57.69 against Friday's close of 57.06/07 as of 10.36 a.m. The Indian currency had earlier hit a low of 57.76 against the greenback. The rupee has been falling sharply since the start of May on concerns that the U.S. Fed may withdraw its monetary stimulus and the Reserve Bank of India may not cut rates as much as previously a...