Indian Rupee is continuing its downfall against dollar and on Tuesday morning, it breached Rs 63 for the first time since November 13, 2013. The Rupee is under severe pressure as the emerging market currencies are running into steep losses and rising concern about global economy. Despite the inflation showing good results, it is not making any impact on Rupee.
On Monday, Rupee closed at Rs 62.94 against dollar and with strong rumours about RBI cutting down the policy rate led to softening of bond yields and put pressure the currency. We have to see whether RBI steps into action.
- TVR
