Rupee's macro fatigue fight continues; investors not moved by govt measures
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Rupee continues to battle macro fatigue; hits new life low Forex: The Indian rupee remained under intense selling pressure and witnessed a free fall for the fourth straight week, plunging to hit a fresh life-time low against the US dollar before managiRupee's macro fatigue fight continues; investors not moved by govt measures
Rupee continues to battle macro fatigue; hits new life low Forex: The Indian rupee remained under intense selling pressure and witnessed a free fall for the fourth straight week, plunging to hit a fresh life-time low against the US dollar before managing a small recovery. Overall, the forex mood broadly undermined on the back of increasing impact of geopolitical threats and concerns on macro-economic front. The government's confidence building measures to curb the currency volatility also fell short of many investors' expectations, causing heavy sell-off and the local stocks to take a massive plunge. Trading in an extremely volatile market environment, the bruised rupee ended at 72.20, showing a steep loss of 36 paise. Panic dollar demand from importers and speculative trade Read more