Rupee hits 30-month low on fears of FII outflows

The rupee slid to its weakest level in 30 months on Friday on expectations of foreign fund outflows from domestic shares on a sudden bout of risk aversion ahead of the euro zone summit over the weekend.

hidden October 21, 2011 09:55:17 IST
Rupee hits 30-month low on fears of FII outflows
Rupee hits 30month low on fears of FII outflows

Reuters

The rupee slid to its weakest level in 30 months on Friday on expectations of foreign fund outflows from domestic shares on a sudden bout of risk aversion ahead of the euro zone summit over the weekend.

At 9:07 am, the partially convertible rupee was at 50.14/15 per dollar, after hitting 50.18, its lowest since April 29, 2009 and 0.7 percent below its Thursday's close of 49.79/80.

Reuters

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