According to a CMIE report, only 383 projects were announced in Q3FY16 with an estimated investment of Rs 1 trillion, the lowest in the past 5 quarters.
The partially convertible rupee closed at 68.80/81 per dollar, compared to its close of 66.24/25 on Tuesday. The unit also posted its biggest fall in absolute terms ever, dropping 256 basis points on the day.
The rupee remained in the doldrums for the sixth session in a row today as it breached the 65 mark to an all-time intra-day low of 65.56 before recovering to settle at 64.55 against the dollar, still down 44 paise.
The rupee slid to a record low on Tuesday, falling past 64 to the dollar, before the Reserve Bank of India (RBI) stepped in to support a currency facing the brunt of a selloff from emerging market assets ahead of an expected tapering of US stimulus.
A raft of measures taken by the Reserve Bank of India (RBI) seems to have fallen flat. The Indian rupee on Monday closed all time record low at 63.13 as against the US dollar. The 10-year benchmark bond yield spiked nearly 35 basis points to 9.23 percent.
The benchmark 10-year bond yield was trading at 9 percent, up 12 basis points on the day at 12:32 p.m., its highest level since November 15, 2011.
RBI likely sold dollars from 61.17 levels, they said. The rupee was last at 61.12/13, not far from the life low of 61.21 seen on July 8.
The rupee fell to as low as 61.12 to the dollar, not far from its record low of 61.21 hit on July 8. It closed trade at 60.47/48 on Tuesday.
The rupee was at 61.09, breaching the previous low of 60.76 hit on June 26. It had closed at 60.225/235 on Friday.
Indian rupee opened at 60.45 per dollar, up 26 paise compared to previous day's closing of 60.71. Sonal Varma of Nomura said, "Our bias to remain short rupee, even after spot broke the 60/USD mark, remains intact."
The Indian rupee on Thursday hit a record low at 59.98 against the US dollar prompting the Reserve Bank of India to check its freefalling. Finally, the local currency closed at 59.57 against the greenback, nearly 1.50 percent or 87 paisa lower than the Wednesday close at 58.70 percent.
The rupee was trading at 58.70/72 per dollar at 9.06 am after opening at 58.82.
The rupee was stronger tracking gains in most other Asian currencies. The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal.
The rupee fell to all-time low of 58.98 intra-day against dollar in yesterday's trade on intense demand for the US currency, but ended 24 paise down at 58.39, a record low.
The rupee is in range, trading at 57.17-57.1850 vs 57.01-57.02 previous close and not far off the record low of 57.32 hit on Friday.
Sales of new US homes sank to a record low in February and prices were the weakest in just over seven years, underscoring the housing market's lingering malaise, which could slow the economic recovery.