Rupee settles at six-month low of 71.40 over global risk-off sentiment

The rupee's fall, though, was the sharpest in the region, followed by the Indonesian rupiyah, which lost 0.52 per cent

The rupee tumbled 0.85 per cent on Tuesday, responding to the fall in equities due to global risk-off sentiment, breaking the psychological 71 a dollar level.

The local currency closed at a six-month low of 71.40 a dollar, the lowest since February 7.

However, the rupee and the local equities were not an exception. All over the world, emerging market assets fell against the greenback, spooked by the unrest in Hong Kong and a 35 per cent fall in the Argentinian peso, even as the dollar index held stable against major global currencies.

The rupee’s fall, though, was the sharpest