Mumbai, India (BBN)-Indian rupee slipped past the 63 levels against the US dollar for the second day in a row amid selling pressure in equities.
The rupee opened higher at 62.81/dollar today but could not sustain the early gains and fell to 63.02 levels at its day’s low as selling pressure intensified in the equity markets, reports NDTV.
The rupee had closed at 62.85 on Tuesday, after hitting and intra-day low of 63.16.
The Nifty is on track to fall for the sixth day in a row amid selloff by foreign institutional investors.
In the past five sessions, Nifty had lost over 5 per cent.
On Tuesday, institutional investors were net sellers of Rs 1071 crore (excluding the Sun Pharma share sale from Daiichi).
At 2:30 pm, the rupee was off day’s low and was trading at 62.93/dollar.
BBN/SK/AD-22Apr15-4:50pm (BST)