Market News
Indian rupee declines to record low after government raises tax on capital gains - REUTERS
MUMBAI, July 23 (Reuters) - The Indian rupee dropped to a record low against the U.S. dollar on Tuesday, pressured by the drop in local equities after the government proposed raising the tax rate on capital gains.
The rupee declined to 83.69 to the dollar, inching past the previous lifetime low of 83.6775, and compared with 83.6275 before the budget announcement.
Reporting by Nimesh Vora; Editing by Mrigank Dhaniwala
