Indian Rupee Nears 100 per Dollar as Record Foreign Stock Outflows Persist

Global investors are bracing for further losses in the Indian rupee, with the psychologically important 100-per-dollar level now in view, as record foreign outflows from local stocks and persistent pressure on emerging-market currencies weigh on the currency. The rupee has already been hitting fresh lows in recent sessions, and on Thursday it briefly recovered after the Reserve Bank of India stepped in to support it, according to Bloomberg.