Indian Rupee Drops To An All-Time Low In History Against US DollarNaveen Kumar (Author) Published Date : Jul 20, 2018 13:51 ET
Following the recent losses on Thursday Rupee value hit an all-time low record and slashes to 69.12 against US dollar and this is worse than the previous record value of 69.10 that occurred on June 28.
According to the recent trade reports, Rupee is the worst performing currency in Asia with a continuous decline in the value. Trade war of US-China brings notable economical changes in their trade, while Yuan declined to 6.7671 per dollar that is 0.9 per cent weaker than the previous value as per reports.
A provisional data showed that shares worth a net of Rs. 315 crore were sold by Foreign Portfolio Investors yesterday. While the trade deficit has been widened to a three-and-half-year high of around $16 billion and the ICRA (International Credits Rating Agency) inspected the current account deficit of the country widening to 2.5% of GDP from April-June. By the end of a year, the gap might be scaling between $65-70 billion.
Indian Rupee Drops To An All-Time Low In History Against US Dollar