Rupee falls to record low amid outflows from stocks, bonds

The rupee fell past 84 to a dollar for the first time as foreigners sold the country’s stocks and bonds.

The currency dropped 0.1 per cent to a new record low of 84.0975 on Friday. Offshore investors have sold $5.7 billion from stocks in the month so far, while bonds have seen $125 million of outflows, according to data compiled by Bloomberg. 

The Reserve Bank of India changed its stance to “neutral” on Wednesday, spurring bets that the country is on the path to cut interest rates. 

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