020 7898 0500Speculation in India over importers boosting US dollar purchases cause the rupee to fall by 0.2%, the largest drop in a week. Recent gains in the dollar and the demand for the US currency are starting to take its toll on the rupee, and analysts are predicting that the rupee will struggle against the dollar. Despite the rupee’s shortcomings against the dollar, it has performed admirably in October, climbing by 1%. This month’s growth, coupled with last month’s 1.4% gain in September, puts the rupee at the top for emerging market currency exchange rates.
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