Pulled down by the selling off Indian stocks and bonds by foreign investors with a cascading effect of crashing trade, the Indian rupee sank to new depths of 75 against a US dollar. The Indian rupee was one of the worst performers in Asian trade as the dollar continued to show its strength against all Asian currencies.
The centers attempt to tap in on the global decline of Crude oil price and the foreign investors dumping the rupee after the Reserve Bank of India’s decision to maintain interest rate beside the declining Indian trade fuels a slipping rupee, which is expected to fall further in the current scenario.
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