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The rupee closed at 68.14 a dollar on November 18, a near nine-month low, after falling 32 paise. Foreign institutional investors were net sellers of Indian equities, while domestic investors bought.
India's foreign exchange reserves fell $1.2 billion to $367 billion as of November 11.
Falling reserves and a weaker currency tied to Fed rate-hike expectations raise the cost of dollar-priced imports. A reserve drawdown also limits the central bank's capacity to defend the rupee.
ibtimes.co.inS V KrishnamachariNov 18, 2016Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
