Rupee at a minimum in more than two months
The Indian currency has depreciated sharply. The rupee lost 31 paise against the dollar and closed at Rs.96.25. The rupee is at its lowest level in more than two months. Foreign institutional investors (FIIs) are shifting large amounts of money from our equity market into high-yielding US bonds, which are the main reason for the rupee's decline. The strengthening dollar and rising crude oil prices have also put pressure on our currency.
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