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.
|73.246||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.