By Anil Varma Dec. 1 (Bloomberg) -- India’s rupee declined after data from the capital markets regulator showed overseas investors increased sales of local equities. The currency fell as losses in Asian equities indicated global investors are pulling money out of the region. The rupee completed a third weekly decline in the five days through Nov. 28 after India’s deadliest terrorist attacks in 15 years killed at least 195 people in the financial hub of Mumbai. “The rupee’s bias is to weaken as the mood in equity markets remains negative,” said Sudarshan Bhatt, chief currency trader at state-owned Corporation Bank in Mumbai. “The market seems to have absorbed the impact of the terror attacks. The rupee’s direction will continue to depend on stocks.” The rupee slipped 0.1 percent to 50.13 per dollar as of 9:50 a.m. in Mumbai, according to data compiled by Bloomberg. It fell as low as 50.225. The currency, which lost 0.2 percent last week, may weaken to 50.25 today, Bhatt said. Funds based abroad sold Indian equities worth a record $13.7 billion more than they bought this year, data released by the Securities and Exchange Board of India show. To contact the reporters on this story: Anil Varma in Mumbai at avarma3@bloomberg.net.

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