Falling Rupee: Indian Rupee dives to 65 for US Dollar
- 5 years ago
The Indian rupee breached the 65 mark against the dollar on Thursday surpassing the previous all-time low of 64.55.
The fall of rupee comes after Federal Reserve minutes hinted that the U.S was on course to begin withdrawal stimulus as early as next month. Top officials of the Fed were mostly in agreement that the central bank should end its massive bond-buying program, which has been in place in one form or another since late 2008.
The RBI's latest measure to tackle the crisis have proven ineffective..worsening the crisis even further.
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The fall of rupee comes after Federal Reserve minutes hinted that the U.S was on course to begin withdrawal stimulus as early as next month. Top officials of the Fed were mostly in agreement that the central bank should end its massive bond-buying program, which has been in place in one form or another since late 2008.
The RBI's latest measure to tackle the crisis have proven ineffective..worsening the crisis even further.
--
For More information on this news visit : http://www.newsx.com/
Connect with us on Social platform at : http://www.facebook.com/newsxonline
Subscribe to our YouTube Channel : http://www.youtube.com/newsx