Historic fall in rupee amid US election updates, now hopes for RBI intervention

Rupee At Record Low: As the picture of the US election results is becoming clearer, the dollar is becoming stronger. After this, the decline in the Indian rupee against the dollar increased and it has reached its record low. On Wednesday, the rupee is seeing a low of Rs 84.19 per dollar and this is a historical low. This morning the trading opened with a fall of 5 paise in the rupee against the dollar. The currency had started falling by 5 paise against the dollar at Rs 84.16 per dollar. Earlier on Tuesday, the rupee had closed at the level of 84.11.

Will the Reserve Bank support the rupee?

The weakness in the rupee has become so much that now it seems that the Central Bank of the country will have to intervene in this matter and take measures to stop the weakness of the rupee. The strengthening of the US dollar has had a reverse effect on the Indian rupee and it opened with a decline and is continuously breaking lower levels.

How much is the rupee’s decline in percentage terms?

If we look at today’s currency decline, the rupee is trading with a decline of 0.1 percent.

The condition of other Asian currencies is also weak

From Chinese Yuan to Korean Won, Malaysian Ringgit and Thai currency are also in sharp decline today and they are trading down by 1 percent to 1.3 percent. From this point of view, in percentage terms the Indian currency is in a better position than these Asian currencies, but at the domestic level it has already reached a record low level.

Dollar index jumps to 4 month high

The dollar index is witnessing a 4-month high and has jumped 1.5 percent to 105.19. This rise has come especially because the expectations of Donald Trump’s victory in the US Presidential elections are increasing, due to which the interest of investors in the trade called Trump Trades is increasing.

US bond yields at 10-year high

American bond yield has increased by 15 basis points to 4.44 percent, which is its 10-year high level. Along with this, a sharp rally is being seen in US equity futures.

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