Rupee breaches 79, sheds 0.9% this week as FII outflows, CAD worries grow

The rupee losses on Friday were, however, limited by dollar sales by exporters, who felt that the domestic unit may not fall much further, given the sharp depreciation seen this week

The rupee weakened against the dollar on Friday, breaching the 79 mark for the first time, as heavy outflows of overseas investment amid a worsening outlook on current account deficit prompted traders to bet against the domestic currency, dealers said.

The rupee settled at 79.04 to the greenbach from the previous close of 78.97. In the course of trade, the local currency touched a low of 79.12 per dollar. The rupee’s losses on Friday were, however, limited by dollar sales by exporters, who were of the view that the domestic currency may not fall much further from current levels, given the