Rupee worst performer globally during one-month period
As against the US dollar, the rupee has sharply fallen from 52.88 levels one month ago to 55.16 on Friday, marking a drop of over 4.2 per cent.
This is the largest fall vis-a-vis the US dollar in the past one month among 25 major currencies across Asia, Americas, Europe, Middle East and Africa.
The rupee had closed at its life-time low of 57.12 against the US dollar on June 22 this year. In February, rupee had strengthened to as high as Rs 49.
Within Asia, the steep depreciation of rupee is followed by the Japanese Yen, which has dropped around 2.9 per cent in the past one month. Among other Asian currencies, Singapore dollar has slipped 0.66 per cent, Malaysia's Ringgit by 0.6
per cent and Indonesia's Rupiah by 0.42 per cent.
On the other hand, China's Yuan has gained 0.45 per cent against the US dollar, while Australia's dollar has also appreciated by 0.37 per cent in the same period.
"Recent economic data like exports, imports, balance of payments and deficit has been bad. There also have been intermittent withdrawals by the FIIs in the stock market.
"The recent worries over US economy have also not helped the rupee's cause. A combination of these factors has dragged down our currency," Dhanlaxmi Bank Executive Vice-President (Treasury) Srinivasa Raghavan said.
Analysts also feel there has
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