INR falls to six-month low against USD

New Delhi: Indian rupee today weakened past 71 levels against the US dollar, falling to nearly 6-month low of 71.26. Foreign portfolio investors continued their selling spree, pulling out a net amount of 9,197 crore in just seven trading sessions this month, hurting the rupee.

Stock markets struggled today with Sensex down nearly 150 points in noon trade. The NSE Nifty has so far slipped nearly 9% since hitting a 2019-high in April amid worries of slowing economic growth and a proposal to raise taxes for foreign portfolio investors.

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