Rupee plunges below 79 per dollar to fresh record low; unabated FII outflows, high crude prices drag currency

Rupee plunges below 79 per dollar to fresh record low; unabated FII outflows, high crude prices drag currency

The Indian Rupee on Friday fell below the 79 mark against the US dollar for the first time to hit a fresh record low amid unabated foreign fund outflow from the Indian markets and a surge in crude oil prices. Foreign institutional investors have offloaded equities worth around $28 billion so far this year, putting [...]