Photo used for representation purpose only. | Photo Credit: Getty Images/iStockphoto The Indian Rupee slumped almost 0.6% or 49 paise to breach the 87 mark against the U.S. Dollar on Monday, amid a meltdown for most emerging market currencies and stock markets across Asia and Europe on the first day of trading after President Donald … Read more
By Ronojoy Mazumdar The rupee’s outperformance last month that turned it into Asia’s best performer may be indicating the central bank’s higher tolerance for a stronger currency with the focus on curbing imported inflation, analysts said. The currency rallied 2% in May, the biggest monthly advance in more than two years, as Covid cases eased, … Read more
By David Finnerty The Indian rupee’s recent gains could be short-lived as pressure grows on Prime Minister Narendra Modi’s administration to announce a nationwide lockdown to curb a deadly wave of coronavirus infections. The prospect of stricter curbs is reviving memories of last year when similar measures dragged India’s economy into its worst contraction in … Read more