Yet another free fall of the Indian rupee as it hit another record low of 72 per dollar mark.
It is said that gains could not be sustained due to dollar demand from banks and importers.
With this, the Indian rupee has depreciated over 12 per cent this year by far.
Increasing interest rate in the United States and escalating trade war tensions have led investors to stick to the US dollar.
This comes as most of the emerging markets including India are witnessing capital outflow.
In India alone, the foreign institutional investors have sold $488.60 million and $5.75 billion worth of equity and debt.
Many of the analysts are of the view that rupee could slide to 73 per dollar mark in the near term.>