₹Rupee at 9⃣-Month Low, Below 68 to 💲USD

  |   India News / Finance

By Fråst🐺

The rupee has 💥crashed below the psychological 68-mark & crumbled by a whopping 31 paise (or 0.46%) to end at 68.13 against the 🇺🇸US dollar💲. This is the lowest closing since February 29. The 💥crash is due to a combination of growing 🇺🇸US rate hike expectations from the 🇺🇸US Federal Reserve & heavy capital outflows from 🇮🇳India perhaps linked to ✌Modi’s 🔥💵🔥demonetisation move. Foreign portfolio investors (FPIs) remained net sellers & sold shares worth a net ₹926 cr💰 today. There are expectations that 🇺🇸US President-Elect Donald 👱🏼Trump’s new administration will 🔺increase fiscal stimulus which could lead to higher interest rates in the 🇺🇸US. Key indices in 🇭🇰Hong Kong, 🇯🇵Japan, 🇸🇬Singapore & 🇹🇼Taiwan rose🔺 by 0.15% to 0.89% while 🇨🇳China & 🇰🇷South Korea fell🔻 by 0.30% to 0.49%.

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