Rupee Hits Over Two-Year Low of 66.88/Dollar Friday Nov 27,2015

 

The Indian Rupee on Friday Nov 27,2015 hit over two-year low amid continued selling by foreign institutional investors in domestic stock and debt markets.

The Indian Rupee slipped over 0.4 per cent or 32 paise at its day low to 66.88 per dollar, a level last seen in September 2013, when India was in the midst of a current account deficit crisis.

The Indian Rupee tumbled in line with its Asian peers due to persistent risk-off sentiment on the back of broad dollar strength.

The dollar held near an 8-1/2-month peak on Friday Nov 27,2015, while the euro hovered around seven-month lows on expectations of additional stimulus from the European Central Bank next week.