Rupee suffers biggest slump in 6 yrs; closes at 4-mth low of 70.73 on yuan shock
Mumbai, Aug 5 (DINN) The rupee on Monday crashed by 113 paise — the biggest single-day drop in past six years — to close at a five-month low of 70.73 due to heavy capital outflows by investors anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue. This was the third straight session of fall for the rupee, during which it lost a massive 194 paise. The US-China trade-related concerns weighed on the investor community and kept the pressure on the Indian rupee, forex…
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