So, what cracked the rupee to a 27-month low? Find out here
The Indian rupee on Monday fell by 21 paise to crack the 67-mark and end at a 27-month low against the United States dollar.
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Zee Media Bureau
New Delhi: The Indian rupee on Monday fell by 21 paise to crack the 67-mark and end at a 27-month low against the United States dollar.
Interestingly, the Sensex rebound from a 3-month low gaining 106 points. So, what when wrong with the rupee?
ALSO READ: Rupee cracks below 67-mark to hit 27-month low Vs US dollar
Here are some of the reasons by the rupee cracked against the US dollar.
- Uncertainties over an impending Fed rate hike which is likely to meet this week
- High demand for US dollar at the Forex market
- Concerns related to capital outflows in the aftermath of the first interest rate hike by the Fed
- Dollar trading higher against other major currencies in the global market
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