Rupee nears ₹90 mark amid external pressures
after close1 source ↓written by the desknot a recommendation
- this year
- 4%
- mark
- ₹90 per dollar
- against the dollar
- 2-3%
The rupee has depreciated 4% this year, making it Asia’s weakest currency, nearing the ₹90 per dollar mark. Policymakers assert the situation is manageable, yet the decline coincides with critical trade negotiations with the US. This depreciation reflects both global trends and India's unique external challenges.
• Most emerging-market currencies, including the Thai baht and Korean won, have lost 2-3% against the dollar this year.
• The ongoing strength of the dollar is driven by the US Federal Reserve's high interest rates, impacting capital flows.
Traders should monitor these developments closely as they may influence market sentiment.
Not investment advice. For informational purposes only.