Rupee hits 72 per dollar, weakest level since mid-December

Reuters Mumbai Aug 23, 2019, 10.23 AM(IST)

Image for representation. Photograph:( Reuters )

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Foreign portfolio outflows from the equity markets are also hurting the rupee

The rupee fell to its lowest in more than eight months on Friday morning tracking weakness in other regional currencies, while concerns over flagging domestic growth also weighed on sentiment.

Foreign portfolio outflows from the equity markets are also hurting the rupee. 

By 0352 GMT, the partially convertible rupee was trading at 72.04/05 per dollar, its weakest level since December 14.

Almost all Asian currencies were trading weaker against the dollar.