In­dia’s ru­pee worst per­former glob­ally

The Pak Banker - - Front Page -


Amid re-ig­nited con­cerns over the macro-eco­nomic sce­nario in In­dia and abroad, In­dia’s ru­pee has again slipped be­low the 55-level against dol­lar, the largest fall among its ma­jor peers glob­ally in the past 30 days.

As against the US dol­lar, the ru­pee has sharply fallen from 52.88 lev­els one month ago to 55.16 on Mon­day, mark­ing a drop of over 4.2 per­cent.

This is the largest fall vis-avis the US dol­lar in the past one month among 25 ma­jor cur­ren­cies across Asia, Americas, Europe, Mid­dle East and Africa.

In­dia’s ru­pee had closed at its life-time low of 57.12 against the US dol­lar on June 22 this year. In Fe­bru­ary, ru­pee had strength­ened to as high as Rs 49. Within Asia, the steep de­pre­ci­a­tion of ru­pee is fol­lowed by the Ja­panese Yen, which has dropped around 2.9 per­cent in the past one month. Among other Asian cur­ren­cies, Sin­ga­pore dol­lar has slipped 0.66 per­cent, Malaysia’s Ring­git by 0.6 per­cent and In­done­sia’s Ru­piah by 0.42 per­cent. Oth­ers feel things could get worse for the ru­pee.

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