The rupee fell below 84 to the dollar for the first time as foreigners sold the country’s stocks and bonds.
The currency fell 0.1 percent to a new record low of 84.0975 on Friday. Offshore investors have sold $5.7 billion from stocks so far this month, while bonds have seen withdrawals of $125 million, according to data compiled by the International Monetary Fund. bloomberg,
The Reserve Bank of India changed its stance to “neutral” on Wednesday, fueling speculation that the country is on track to cut interest rates.
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