Rupee tumbles as current-account deficit widens to 5-year high

  • Forex
  • Monday, 10 Sep 2018

MUMBAI: The Indian rupee and bonds sunk after the current-account deficit widened to the most in five years, as an emerging-market rout raises investor scrutiny of countries with worsening balance of payments.

The rupee tumbled as much as 1.2 percent Monday, the most in a month, to a record low of 72.5587, leading declines among Asia's emerging-market currencies. The benchmark 10-year bond yield gained 11 basis points to 8.14 percent, while stocks also declined.