Rupee declines to record low of 80.01 to a dollar as foreign funds exit

The Indian rupee touched another record low as foreign investors continued to sell the nation’s equities.
 

The rupee declined to 80.0125 per dollar on Tuesday. The currency has been buffeted by nearly $30 billion of foreign outflows from the nation’s equities so far this year -- a record sum -- and concerns over a deteriorating current-account deficit amid elevated oil and commodity prices.

India policymakers have sought to arrest the currency’s decline with a raft of measures -- from intervention to raising duties on gold imports -- with a weaker rupee adding to imported inflation pressures. Other emerging market currencies