NEW DELHI: Rupee falls sharply on account of considerations over US election outcomes and withdrawal of international buyers. The rupee recorded a file low towards the greenback. RBI's well timed intervention saved the rupee from additional decline.
Rupee hits an all-time low of 84.09 towards the greenback. Which means that to get one greenback, it’s important to pay 84.09 rupees. In contrast to different Asian currencies, the rupee has fluctuated lower than 1 % over a month.
The greenback bought off available in the market on most days in the course of the fortnight. The nation's inventory market stays excessive and international funding flows into China have been hit by a growth following stimulus measures. Overseas buyers bought shares value Rs 85,000 crore in October alone.
If Trump involves energy, the greenback index might soar. With that, US Treasury yields will rise and Asian currencies will weaken.
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