The reason for the decline of the Indian rupee is possible capital outflow and weakness of the Asian currency.
India’s currency Rupee has fallen to historic lows due to possible capital outflows and weakness in Asian currencies. It was reported by Reuters.
The rupee closed slightly weaker at 84.0775 against the dollar, its weakest closing level in history, after hitting an all-time low of 84.0825 earlier in the session.
Foreign investors sold nearly $10 billion worth of local stocks on a net basis in October, a record monthly inflow.
Asian currencies were reported to have fallen 0.1% to 0.4%, while the dollar index stood at 103.9, near its highest level in two months.
Let us remind you that the hryvnia is losing ground against the dollar and euro in the cash market. The average selling rate of the dollar in Ukraine increased to 41.50 Hryvnia, and the euro exchange rate increased to 45.35 Hryvnia.
Source: korrespondent
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