The rupee breached the 64 to the dollar mark on Thursday May 07,2015 to close at
64.23, a 20-month-low since September 2013
The currency hit a new low because of the
continued sell-off of Indian equity and debt by foreign investors on
uncertainty surrounding the applicability of the minimum alternate tax
and the progress of key economic reforms.
Besides, the rising crude oil prices, the strengthening of the Euro, the
weakness of the Korean won and Thai baht weighed on the domestic unit.
On Thursday, the rupee lost 70 paise over the previous close of 63.54.
The domestic currency has dropped a little over 100 paise in the last
five trading sessions.
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