Master Stroke: Crash in Sensex leads to loss of Rs 16 lakh crore of investors

The rupee skidded by 18 paise to finish at a fresh lifetime low of 73.76 against the US dollar Friday after the RBI unexpectedly kept the policy rate unchanged.
The domestic unit crashed below the 74-mark for the first time ever in intra-day trade on persistent capital outflows and high crude oil prices.
Markets were caught off guard as the Reserve Bank maintained status quo on the benchmark interest rate. However, the central bank warned that rising oil prices and tightening of global financial conditions pose substantial risks to growth and inflation.