indian rupee hits record low: After Trump’s election victory in America, the rupee fell by 17 paise against the dollar in a single day, which is the biggest fall in the rupee in 4 months.
New Delhi: After the victory of American Donald Trump, the dollar is likely to rise in the coming month. On Thursday, the Indian rupee fell to its lowest level till date. There is a possibility that the Indian Rupee may fall by a few paise more against the Dollar.
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The rupee fell by 17 paise against the dollar in a single day, which is considered to be the biggest fall in 4 months. The rupee hit 84.33 before closing at 84.294 per dollar, according to Clearing Corporation of India data, Financial Express reported.It is said that there is a possibility of further decline in the rupee in the coming days, it is likely to reach Rs 84.40.
It is said that the Indian Rupee has fallen to a low of around 84.37 against the US Dollar due to weakness in domestic equities, continued foreign funds and rising crude oil prices. Which is a significant decline which has raised a lot of concern among investors and economists. The main reason for this devaluation is the strengthening of the dollar after the US President Donald Trump won.
As the market continues to rise in the Indian economy it has become important for clients and holders of these funds to understand the factors driving this bullish dollar trend.
The indian rupee hits record low is looking somewhat resilient against other Asian currencies due to the intervention of the Reserve Bank of India (RBI), which is failing to limit its decline due to the rising mark. However, forex experts have predicted and warned that RBI intervention may stabilize the existence of But this my note significantly impacts the broader trend of the rupee as the dollar is becoming stronger globally against the rupee.
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Not only this, America has also increased the 10-year treasury yield which has increased by 17 basis points to reach a four-month high of 44%.
