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Indian rupee: From Asia’s best performer to worst in just two weeks

Indian rupee has turned into the worst performing Asian currency from being the best just two weeks back. A rebound in global oil prices and concerns over farm loan waivers has reversed the gains made by the domestic currency. Funds are instead accumulating the Indonesian rupiah and Chinese yuan on optimism over trade talks and signs of a Federal Reserve rate hike pause. India relies on oil imports to meet about 80% of its requirements. Every $10 rise in oil prices widens the current-account gap by $12.5 billion, according to a central bank study.

Read More at The Financial Express News date : 11 Jan 2019, Friday

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