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Rupee set to crash past record, says ex-Reliance forex head Thiagarajan - business news

Rupee set to crash past record, says ex-Reliance forex head Thiagarajan – business news

The growth shock to India’s economy from the coronavirus pandemic will trigger more weakness in the rupee, dragging it toward an unprecedented 80-per dollar level.

That’s the view from Venkat Thiagarajan, who has traded currency markets for 26 years, and most recently served as the head of forex at Reliance Industries Ltd., which runs India’s largest corporate treasury. The rupee, he argues,…

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#USDINR opened at 68.37

#USDINR opened at 68.37 against its previous day close at 68.57

USDINR opened at 68.37 against its previousday close at 68.57. The pair opened lower tracking the subdued movement in greenback after US inflation data amid higher risk appetite on relief over lack of escalation in trade tensions between #US and #China.

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