Rupee Nears All-Time Low
The Indian rupee (INR) moved closer to its all-time low, decreasing by 22 paise to 89.75 against the dollar in early trading on Tuesday. Even though this development may be alarming, do not get overly concerned at this point! The fall, to a large extent, mirrors the still-nonexistent US-India trade deal, which has momentarily obscured India’s exemplary economic growth. Visualize it as just a tiny shake on an otherwise smooth ride.
Investors and companies are very watchful, but with strong GDP figures and preemptive RBI actions, the rupee is not going to be a lost case, just an obstacle in its way.
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