Rupee, stocks join global glum, extend losses

The rupee, which has now lost 8% against the dollar in 2022, slid to as low as 81.24 Friday before reported central bank intervention hauled the unit to just above 81 at the close of trading. The currency's pronounced fall accompanied accelerated selling in stocks, particularly of banks and other financiers, causing both the Nifty and the Sensex to decline 1.7% each.

Rupee, stocks join global glum, extend losses
The rupee, which has now lost 8% against the dollar in 2022, slid to as low as 81.24 Friday before reported central bank intervention hauled the unit to just above 81 at the close of trading. The currency's pronounced fall accompanied accelerated selling in stocks, particularly of banks and other financiers, causing both the Nifty and the Sensex to decline 1.7% each.