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Rupee hits lowest of this year

Date: 23 August 2019 Tags: World Economy
  • The Indian rupee plunged to an over eight-month low of 71.81, dropping 26 paisa against the United States (US) dollar.
  • The sudden drop in Yuanled to increase in volatility in emerging market currencies including the rupee. Tumbling equity and excessive outflow of foreign funding also resulted in fall.
  • The fall in rupee value is estimated to affect domestic growth as well as global trade.