Today, Indian currency, Rupee has depreciated to 64 levels against US dollar. The currency has depreciated to its lowest level in 2015 owing to sustained dollar demand from banks & importers amid weak equities.
Viewing at further downturn pressure on global equity markets, some analysts anticipate that Rupee will further depreciate slightly in near-term.
Earlier in Nov’14, the currency has depreciated to 62.70 against USD on the grounds of strong US dollar demand and widened Indian fiscal deficit.
It is to be noted that consistent depreciation in Indian currency will boost India’s competitiveness in coming days.
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