Currency woes: Five factors that are dragging rupee lower - Highlight Investment Research

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Saturday 18 August 2018

Currency woes: Five factors that are dragging rupee lower

The rupee has had a historic week, with the currency dipping to all-time lows of 70.39, breaching the psychological 70 per dollar level. A sharp fall in Turkish lira was seen as one of the triggers for the global currency rout.
At the last traded price, the rupee slid 26 paise to close below the 70-mark for the first time against the US currency, hammered by a strong dollar demand amid growing concerns over widening trade deficit.
The Indian currency collapsed to a historic intra-day trading low of 70.40 before closing at a fresh lifetime low of 70.15 per dollar, down by 26 paise or 0.37 percent over the previous close.
Emerging market currencies and stocks remained in the investors' crosshairs as worries mounted despite fresh rally for the Turkish lira.

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