For Quick Alerts
For Daily Alerts

Rupee Sinks To 2-Year Low; Set To Hit 67 As Draghi Disappoints


The Indian rupee hit a fresh 52-week low of 66.95 to the US dollar, as global markets faced a sell-off after ECB President Mario Draghi, did not expand the quantum of monthly easing as was largely expected.

European stock markets seen a huge sell-off with US and Asian markets following. This had an impact on currencies, with the Indian rupee also opening lower. Check and convert currencies

Rupee Sinks To 2-Year Low; Set To Hit 67 As Draghi Disappoints
The Indian currency has also been reacting to reports that there is a strong possibility that the US Fed will hike interest rates later this month.

Should that happen we could see further pressure on the rupee. The Reserve Bank of India is unlikely to intervene too much and this could help exporters. In fact, the central bank may be comfortable with the currency at the current levels.

Read more about: ecb dollar
Story first published: Friday, December 4, 2015, 9:14 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more