Rupee hits 2-yr low of 67, sensex dips on global cues

The sensex dropped 249 points on Friday to settle at a two-week low of 25,638, tracking a global rout after the ECB stimulus fell short of expectations. Sentiment was also impacted by a weakening rupee which fell to 67.01 intraday, a two-year low, which along with sustained capital outflows kept investors on the edge Commodity Market Astrology Tips

The RBIstepped in through public sector banks to support the rupee, which resulted in the domestic currency closing at 66.69 — three paise lower than its previous close. Meanwhile, data released by the RBI showed that India's foreign exchange reserves fell $750 million to $351.6 billion in the fortnight ending November 27. 

RBI governor Raghuram Rajan has indicated that a Fed rate hike is almost a certainty, stating that it is almost as widely anticipated as was RBI's status quo policy on December 1. He has also said that he expected the rupee to stabilize after an initial round of volatility following the rate hike and that the RBI would step in to moderate volatility Indian stock market astrology prediction

After resuming lower, the 30-share BSE sensex continued its slide and hit a low of 25,624, before settling down by 249 points, or 0.96%, at 25,638 — a level last seen on November 18. The sensex has now lost 531 points in the last three days. The NSE nifty cracked below yet another crucial mark of 7,800 by falling 82 points, or over 1%, to close at 7,782.