The continuous downfall of rupee against dollar reached to a record low of 62.40 Monday early morning, despite the government announcing a series of remedial steps last week to freeze the currency's fall.
The Sensex dropped around 300 points, while the Nifty fell 1.7 percent after reaching its lowest intraday level in last 11 months, which is even more than Friday's four percent slump as a record low of rupee weighs.
The rupee surpassed the previous low of 62.03 on Friday.
Meanwhile, the exchange data has shown that the foreign institutional investors have sold 5.63 billion rupees of cash shares on Friday, ending a three-day buying streak.
According to a foreign news agency report, Asian markets face a tense few days waiting to see if minutes of the Federal Reserve's last policy meeting would provide some clarity on when it might start scaling back stimulus-with far-reaching implications for borrowing costs across the globe.
-With inputs from ANI
null
|
|
Comments:
