The rupee tumbled to a 13-month low of 63.45 as stocks markets across the globe crashed and sentiments were bearish with crude continuing to post losses. Poor data emanating from China saw a rout across global markets with Indian markets seeing a crash in metal stocks.
66.825 United States Dollar
Metal stocks which are vulnerable to data from China fell with Hindalco and Sesa Sterlite droppi9ng in trade.
Bonds also fell as bond yields rose fearing a probable delay in rate cuts. To add to global market worries Russia raised interest rates at a time when growth concerns across the globe were worrisome.