The rupee opened the day weak at 63.27 to the dollar a drop of 33 paise over Monday's close. Sentiments continued to remain weak across global markets with weak overnight closings in the US.
This has led to a basket of currencies declining against the US dollar in the last few days, particularly emerging market currencies. Foreign funds have also been selling in the Indian markets and there is no foreign fund inflows to support the rupee.
However, dealers believe that the Reserve Bank of India may intervene should the rupee fall further. Check rupee rates here
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