Rupee hits new low; yet second best performer among Asian currencies

Quick Summary:

The US economy has performed well recently and is expected to continue on a positive trajectory,” said Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP.

The rupee’s fall came as Republican candidate Donald Trump won the 47th US presidency with a decisive victory, defying expectations and securing a greater number of votes than Kamala Harris in her previous three elections.

The Thai baht and Japanese yen saw the most depreciation against the dollar, with declines of 1.92 per cent and 1.66 per cent, respectively.

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Category: BusinessFinance

Markets: IndiaHong KongJapanUnited States

Topics: Dollar index Rupee depreciation US presidency Federal Reserve rate cut US Treasury yields RBI intervention Anil Kumar Bhansali Gopal Tripathi Donald Trump Repo rate Indian rupee Asian currencies

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News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 19:36:39 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 544 words

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Sentences: 23 lines

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News ID: 23448248

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