17032015Tue

Last updateTue, 17 Mar 2015 2pm

Indian rupee falls below 60 against the US Dollar

The Indian rupee fell below 60 to the dollar on Wednesday, on concerns that foreign investors would continue to exit domestic markets and add to concerns about the funding of the country's record current account deficit.

Traders are also wary of potential intervention from the Reserve Bank of India.

As of Wednesday morning UK time, the rupee was at 60.08 to the dollar and had already surged past 91 rupees to the British Pound in the open market.

This is the first time since June 27 that the rupee has fallen below the 60 level.

Rupee had touched an all-time low of 60.76 against the dollar on June 26.

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