As per the previous made speculation the rupee fell to a new record bottom of 256 bps to 68.80 against the dollar, making it the biggest single day fall since Oct '95. The rally was largely on the basis of the wide spread sentiment of the foreign investors that "sell out" is the only option out of the stiff economic challenge faced by the country.
The volatile mood of the foreign investors made the rupee fall 3.7% to hit the all time low of 68.85 before the central bank intervention gave it a respite level.
The Nifty and Sensex opened on weak note being 1% down. Sensex fell over 200 points and Nifty fell below 5200 level for the first time since Aug'12.
Oil prices have increased amid the possibility of a US military action on the leading exporter of oil Syria for the country alleged use of chemical weapon against the country's population.
Refer: http://indiahonest.blogspot.in/2013/08/reuters-poll-warns-rupee-may-touch-69.html
The volatile mood of the foreign investors made the rupee fall 3.7% to hit the all time low of 68.85 before the central bank intervention gave it a respite level.
The Nifty and Sensex opened on weak note being 1% down. Sensex fell over 200 points and Nifty fell below 5200 level for the first time since Aug'12.
Oil prices have increased amid the possibility of a US military action on the leading exporter of oil Syria for the country alleged use of chemical weapon against the country's population.
Refer: http://indiahonest.blogspot.in/2013/08/reuters-poll-warns-rupee-may-touch-69.html