Rupee continues to slide despite FII inflows

Despite net inflows from foreign institutional investors (FII), the rupee continued to slide and was down 25 paise at Rs 50.60 per dollar.

This is for the fifth day in a row that the rupee has lost ground against the dollar. Marketmen are a little perturbed on the fall of the rupee considering that there have been no outflows from FIIs. They are a little worried that should outflows from FIIs begin the rupee might go into a tailspin.

They attribute the persistent fall in the rupee to dollar buying from crude importers.

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