The rupee hit a new record low of 68.86 to the dollar, surpassing the earlier low of 68.85 hit in August 2013.
Consistently high capital outflows, pressured by Foreign Portfolio Investors, has ensured that the rupee continues to remain weak. This was the 5th straight day of losses for the Indian rupee. Intervention by the Reserve Bank of India may prevent a further slide in the Indian rupee.
The poor sentiments for the Indian rupee also impacted sentiments in the equity markets with the Sensex plunging below the 26,000 mark.
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