The Indian Rupee touched an all time low of 58.03 per dollar amid increased worries about India’s rising current account deficit and enhanced sale of Indian debt by foreign investors.
Indian Rupee vs. US Dollar
The Indian rupee fell over 1.6 percent on Monday against the US dollar to mark its biggest drop since September 22, 2011. The Indian rupee had last touched a low of 57.32 in June last year.
The Indian rupee displayed a highly volatile trend for the past few days as it faced enhanced downward pressure due to heavy demand for US dollars.
The...
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