The rupee dropped 23 paise in early trade today, once again threatening to breach the physocological 60 levels on weak equity sentiments across the globe.It was last trading at 59.93 against the dollar.
Dollar strength across major currencies also led to the rupee's decline. Expectations of large scale buying into equity as witnessed by FIIs late last week, were belied as FIIs turned sellers in the cash market on Monday and Tuesday.
Dealers say the rupee may cross the 60 mark should there be a sustained selling in equities today.
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