The Indian rupee continues its free fall and records the worst performance of any Asian currency
The value of the Indian rupee fell to a new low, affected by the exit of capital from the Stocksand bonds in the country, due to the delay in reaching an agreement with the United States to reduce Indiais among the few major economies yet to conclude a trade agreement with the United States, with the country’s chief economic adviser hinting that an agreement could be reached by next March.
Meanwhile, 50% US tariffs are hurting Indian exports, while rising imports have increased demand for the dollar, negatively impacting the local currency.
Clearing house data showed that foreign investors have reduced their holdings of… Indian bonds eligible for the index amounted to 69.03 billion rupees ($764 million) this month. At the same time, Indian stocks saw outflows of $1.2 billion, bringing total outflows this year to more than $17 billion.
The company expects "Cuttack" Securities expects the exchange rate to reach Rs 91 to the dollar by the end of December, while the company expects… "Novama" To decline to 91.50 within the next two or three months.
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