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India Rupee Falls to Record as Dollar Strength Dents Risk Mood

  • Rupee drops as much as 0.7% to 77.4337 against the dollar
  • Oil may add further pressure on the rupee, says DBS’ Vaidya
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WATCH: DBS Bank India Head of Treasury and Markets Ashhish Vaidya discusses his outlook for bond and rates markets.Source: Bloomberg
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The Indian rupee fell to a record low as dollar strength dented demand for riskier assets and foreigners continued to dump the nation’s stocks. 

The rupee dropped as much as 0.7% to 77.4337 a dollar on Monday, slipping past the previous all-time low of 76.9812 touched in March. Stocks extended declines, with the benchmark S&P BSE Sensex Index retreating 1.5%.