Sentiments turned extremely weak in the forex market due to consistent selling by foreign investors in the backdrop of demonetisation and renewed fears of a Fed rate hike. The currency opened nearly 22 paise down at 68.78 against the dollar on account of buying of the American currency by banks and importers. Since demonetisation, the rupee has plunged over 2.5 per cent till date. The Reserve Bank of India on Wednesday fixed the reference rate for the rupee at 68.47 against the US dollar and at 72.7844 for the euro.
The domestic equity market opened lower on Thursday tracking mixed global cues. The BSE Sensex was trading 161.49 points, or 0.62 per cent, down at 25,890, while NSE Nifty 50 opened 42.40 points, or 0.53 per cent, down at 7990.Foreign institutional investors (FIIs) have withdrawn over Rs 3,700 crore from equity markets this week.

 

http://economictimes.indiatimes.com/markets/forex/rupee-drops-to-lowest-level-since-aug-2013-down-over-26-paise-at-66-82/articleshow/55593505.cms

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