Rupee hits over two-year low
The rupee slipped over 0.4 per cent or 32 paise at its day low, a level last seen in September 2013, when India was in the midst of a current account deficit crisis.
The rupee tumbled in line with its Asian peers due to persistent risk-off sentiment on the back of broad dollar strength. The dollar held near an 8-1/2-month peak on Friday, while the euro hovered around seven-month lows on expectations of additional stimulus from the European Central Bank next week.
The Reserve Bank of India likely sold dollars through state-owned banks to stem the rupee's fall around 66.88 per dollar, Reuters said quoting state-run banks.
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