The Indian rupee reached a record low against the dollar, despite recent efforts to maintain the currency.
On Wednesday, the Central Bank of India set additional limits on the amount of money that companies and individuals can send out of the country.
This had little effect and the rupee fell to 62.03 per dollar, below its previous level of 61.80, reached on August 6.
Overseas investors are withdrawing money from Indian stocks and debt due to economic concerns.
According to official figures, international investors have withdrawn $ 11.58 billion in shares and debt from Indian markets since early June.
India’s economy grew rapidly, reaching an annual growth rate of 9%.
In recent months, there has been a sharp decline, mainly due to a slowdown in the manufacturing and services sectors.
“There is a complete lack of faith in the markets. There are concerns that the IRB [Reserve Bank of India] measures may not help improve the rupee “ said Param Sarma, CEO of NSP Forex.