The rupee drops to its lowest in more than five years on Friday, weighed down by a stronger dollar overseas and losses in local shares.
According to news by 10:20 am the partially convertible rupee was at 46.86/87 per dollar after hitting 47.30.
"The dollar has gained against other currencies overseas and the equities are down, so there are expectations of more capital outflows from local stocks," said V Kumar, chief dealer at State Bank of Travancore quoted saying in a news paper.
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