Rupee Sinks To Record Low
  • Nikita Setia
  • Aug 28 2013

August 28: The rupee hit a record low, losing 2.5% to become the worst performing Asian emerging market currency today. Since May 22, when the US Fed first hinted at an end to the loose money era, the rupee has slumped over 21%, with a 13% fall seen in the past month alone. With a spike in 10-year bond yields and the crude rally adding to an already high CAD, India’s troubles are far from over.