Dollar-Rupee 52 paise depreciation

Indian rupee slumped 52 paise against US dollar,making it as biggest slump during this year ,stood at Rs 66.90 a US dollar.

Swinging crude oil prices have left another deep hole into Indian economy,coupled with punch on macroeconomic front has deft a wide trade deficit.

Even Reserve Bank of India’s intervention did not save the rupee dipping year’s low,leaving the afternoon trade haywave.

Indian rupee has taken the hit that no other country’s currency in Asia has taken .Such a major jolt,even after strengthening indian currency by 6 percent in 2017.Domestic currency has been drawn into the vortex of free fall,besides a huge exodus of capital outflow from equity and debt markets added to the US federal Reserve’s anticipated interest rate policy is sending another shocking waves.

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