Foreign portfolio investors (FPIs) have now sold off shares worth $1.742 billion in the Indian equity market in October, so far. The sell-off in the Indian bonds in the same time frame has been much smaller at $439.3 million, data from Bloomberg and provisional data from exchanges showed. On Friday, the rupee closed at 74.3875 against the greenback and since January, the rupee has now lost over 14%. Noticeably, the US dollar Index \u2013 Dollex \u2013 has shot up by nearly 0.40 points from Monday\u2019s close to around 96.155 levels on Tuesday. The dollex was hovering around 94.661 levels on August 1. In the past three months, the FPIs had remained net sellers of Indian shares; in August and September their sales totalled to $277 million and $1.3 billion, respectively. FPIs had remained net investors in Indian bonds in August at $355 million but had dumped bonds worth $1.25 billion in September. On a year-to-date basis (YTD), there has been a total selling of $3.423 billion worth of equities and $7.24 billion worth of bonds. The weakening rupee could prompt foreign investors to offload more bonds, said market observers, since otherwise their portfolios would continue to lose value. To be sure, other emerging markets, which are vulnerable to rising crude oil prices, have also seen sell-offs in their bond markets.