The rupee slipped 27 paise to 68.83 against the dollar in early trade on Thursday amid a resurgent US currency in global markets. The outflows from Indian capital markets have also weighed on the rupee. The rupee had closed at 68.56 against the dollar on Wednesday. The dollar’s rise has fuelled expectations that the rupee may slip below 70 levels over the next few months. The Sensex fell over 150 points today, putting further pressure on the rupee.
The rupee had recorded its lowest-ever value of 68.85 against the dollar in August 2013 when the country was suffering from its worst market turmoil since the 1991 balance of payment crisis.