The Indian Rupee on Wednesday February 17,2016 opened lower at 68.49 per dollar versus its
previous close of 68.37. The selloff in the currency quickly gathered
pace, with the rupee slipping to 68.67 against the greenback.
The Indian Rupee is now trading just 18 paise away from its all-time low of 68.85 per dollar, a level seen on August 28, 2013. The selloff in the rupee hit sentiments in the equity markets. The Sensex slumped over 150 points or 0.7 per cent and the Nifty slipped below 7,000 in morning trade.
The rupee has been one of the worst performers in Asia this year, falling by over 3 per cent, mainly on account of strong foreign investment outflows from equity markets. Foreign institutional investors have pulled out a net of over $2 billion from Indian shares since the start of the year.
The Indian Rupee is now trading just 18 paise away from its all-time low of 68.85 per dollar, a level seen on August 28, 2013. The selloff in the rupee hit sentiments in the equity markets. The Sensex slumped over 150 points or 0.7 per cent and the Nifty slipped below 7,000 in morning trade.
The rupee has been one of the worst performers in Asia this year, falling by over 3 per cent, mainly on account of strong foreign investment outflows from equity markets. Foreign institutional investors have pulled out a net of over $2 billion from Indian shares since the start of the year.
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