India Rupee Falls Past 84 Per Dollar to Record Low Amid Outflows
- Central bank switched to neutral stance from hawkish this week
- Nation has seen almost $6 billion of outlows this month
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The Indian rupee fell past 84 to a dollar for the first time as foreign outflows from stocks and bonds and a less hawkish central bank piled pressure on the currency.
The currency dropped as much as 0.1% to a new record low of 84.0975 on Friday. Offshore investors have sold $5.7 billion from stocks in the month, while bonds have seen $125 million of outflows, according to data compiled by Bloomberg.