The rupee neared a record low on Wednesday morning as rising geopolitical tensions in the Middle East and the possibility of a withdrawal of monetary stimulus from the U.S. The Federal Reserve shifted risk assets.
Dollar demand from importers, coupled with foreign institutional investors (FII) coming out of the national markets concerned rupee.
In addition, there is concern that oil prices increased current account deficit will rise.
Read More - Rupee closes in on record low as regional tensions rise