Rupee falls to record low of 64.13 before RBI steps in; Sensex falls 150 points
The
rupee extended losses past 64 to a dollar on continued concerns about
how India will fund its current account deficit (CAD ).
MUMBAI: The rupee slumped
to a record low in early trade on Tuesday and bond yields hit another
five-year high as Asia's third-largest economy bore the brunt of growing
money flows out of emerging markets.
The rupee slumped as much as 1.6 percent to 64.13 to the dollar, adding to its 2.3 percent rout on Monday, before traders said the RBI was seen stepping in to sell dollars.
Markets are bracing for further losses, with 1-month non-deliverable forward trading at 64.71.
The rupee slumped as much as 1.6 percent to 64.13 to the dollar, adding to its 2.3 percent rout on Monday, before traders said the RBI was seen stepping in to sell dollars.
Markets are bracing for further losses, with 1-month non-deliverable forward trading at 64.71.
ANAND MAURYA
PGDM -I YEAR
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