MUMBAI: The Indian rupee rose on Wednesday, yet remained within close of its record low hit last week, as outflows from equity markets added to concerns about the funding of the current account deficit ahead of the US Federal Reserve's decision on its stimulus programme.Such concerns have compounded because of the likelihood of the Fed tapering its bond purchases, which could trigger an outflow from emerging markets.Foreign fund selling in Indian equities have picked up pace to add to the huge sell-off in debt markets.Overseas investors have sold $485 million of Indian shares in five sessions, adding to outflows of $4.7 billion in 18 consecutive sessions of debt selling, as per capital market regulator data.Inflows are crucial to bridge India's current account gap and will be needed to fund an estimated $90 billion gap in its balance of payments in the current financial year.Faced with a sharp fall in the ...
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