The Indian Rupee is trading higher by 46 paise at 70.94 per dollar. Earlier, it was at a nearly six-month low of 71.40 against the US dollar. At the interbank foreign exchange, the rupee opened at 71.15 and touched a high of 71.02 and low of 71.40 against the American currency.
The overseas investors are weakening india's currency value further. A sharp drop in the rupee has wiped out most of the profits for foreign investors as they never predict the short-term investments. The rupee has depreciated in seven of the past 10 years. A trade analyst said, "This decline was in a calibrated manner and the most stable government in three decades gives the policy makers to control the stop."
It is set for its second-worst monthly loss since September 2013. The rupee has slumped more than 3.6% against the dollar this month. Despite all these risks few countries like india with high-interest rates still attract foreign investors and if this panic spreads out they also will pull out of india. watch out this space for more updates.
The overseas investors are weakening india's currency value further. A sharp drop in the rupee has wiped out most of the profits for foreign investors as they never predict the short-term investments. The rupee has depreciated in seven of the past 10 years. A trade analyst said, "This decline was in a calibrated manner and the most stable government in three decades gives the policy makers to control the stop."
It is set for its second-worst monthly loss since September 2013. The rupee has slumped more than 3.6% against the dollar this month. Despite all these risks few countries like india with high-interest rates still attract foreign investors and if this panic spreads out they also will pull out of india. watch out this space for more updates.
