Rupee falls to five-month low at 61.49 Vs US dollar
Zee Media Bureau
The rupee depreciated by 65 paise to end at 5-month low of 61.49 against US dollar at the Interbank Foreign Exchange market Wednesday due to the greenback's gain against other currencies overseas.
Heavy dollar outflows from the domestic share and debt markets also weighed on rupee's strength.
Forex dealers said besides the dollar's gain against other currencies, fresh demand for the American unit from importers and a weak sentiment in the domestic equity market put pressure on the rupee.
Foreign funds have sold USD 363.48 million worth equities and USD 440.15 million worth of debt so far this month, bringing down total inflows so far this year to USD 25.60 billion.
Logging the first drop in three days, the benchmark Sensex today slumped 243 points led by losses in ITC, ICICI Bank and Tata Motors shares in line with weak global cues amid worries the conflict in Ukraine could worsen.
The 50-share NSE index Nifty dipped below the 7,700-mark by falling 74.50 points, or 0.96 percent, to end at 7,672.05 after moving between 7,740.95 and 7,658.95 during the day.