Rupee falls below 61/dollar to record low

Jul 08, 2013

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Mumbai: The rupee fell to a record low on Monday as an emerging markets selloff after strong U.S. jobs data laid bare the currency's vulnerability and dependence on capital inflows to fund its record current account deficit.
The rupee was at 61.09, breaching the previous low of 60.76 hit on June 26. It had closed at 60.225/235 on Friday.
Bond yields also jumped on fears that foreign investors would continue to sell rupee debt. The 10-year yield rose as much as 13 basis points to 7.63 pct from its previous close.

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