The Indian rupee plunged to a three and half month low, depreciating below the Rs 63/$ mark in early trades on Tuesday, 21 April 2015 as fresh fears over the impact of retrospective taxation rattled foreign investors and Indian markets. Moreover, a strong dollar overseas as the euro slid on increasing worries that Greece could default on its debt and eventually exit the single currency kept the rupee under pressure. Rupee fell to 63.1550 per dollar, a level last seen on January 8 and compared to its previous close of 62.91 when it had fallen the steepest intraday since December 16.
Meanwhile, local markets are witnessing selling pressure. Foreign portfolio investors sold shares worth a net Rs 1506.86 crore yesterday, 20 April 2015, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 962.50 crore on yesterday, 20 April 2015, as per provisional data released by the stock exchanges. The S&P BSE Sensex was down 92.81 points or 0.33% at 27,793.40 while the CNX Nifty was down 40.10 points or 0.47% at 8,408.
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