Aug
14
Indian Rupee Drops as Lira Turmoil Sends Investors Rushing for the Exits
ByThe currency is down 9.5% so far this year
The collapse of the Turkish lira rippled to India Tuesday, where the rupee fell to an all-time low against the dollar, as investors sold emerging-market currencies.
The Indian currency fell to an intraday, record low of 70.08 rupees to the dollar in early trade, retaining its position as one of Asia’s worst-performing currencies this year. Analysts said the rupee could fall as low as 70.60 in the next few sessions. It later recovered some ground to 69.89…
Indian Rupee Drops as Lira Turmoil Sends Investors Rushing for the Exits
