Moody's Investors Service in its report said that the sharp fall in Indian rupee is having a moderate impact on the Indian companies. The Indian rupee continued its downward fall on Wednesday with the currency falling 57 paise against the US dollars.
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Indian currency tanked to a record low of Rs 53.80 per US dollar on increased demand for the American currency from banks and importers and sustained foreign capital outflows amid an economic slowdown.
PERSPECTIVE: What's pulling down Rupee now? Dollar gains against the euro and other currency rivals overseas amid the lingering euro zone debt crisis put pressure on the Indian rupee, forex dealers said.
MUST READ: Will the RBI intervene In addition, continued foreign capital outflows amid a slowdown of the domestic economy contributed to the weak rupee sentiment, they said.
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