In just 2 days, the Indian Rupee fell by 103 paise and hit a 2-week low of ₹86.27 against the US Dollar.
Why this happened:
China’s Yuan got weaker due to new US tariffs.
This put pressure not only on the rupee but also on other Asian currencies like the Indonesian Rupiah, which hit a record low.
On top of that, the Dollar got stronger, and Indian companies started buying more dollars as the stock market began recovering.
The usual year-end dollar supply also comes lower which added more pressure.
Rupee Drops as Dollar Gets Stronger & China’s Yuan Weaker
