US election Impact..!! indian rupee falls all-time low..!?

In the midst of the US presidential election, the indian rupee hit a historic low against the US dollar in the morning trade on november 6, wednesday morning, shocking importers and economists. A few days ago, the rupee fell further after registering a massive fall of Rs 84.11. The indian rupee fell by 14 paise to hit an all-time low of 84.23 rupees against the dollar in early trade this morning. It is no exaggeration that the US presidential election is the most important reason for the depreciation of the rupee today. "The value of the rupee, which makes a hole in the wallets of the common people has fallen to 84.11 against the dollar..!! " As trump is expected to win the presidential election, the US dollar is strengthening as the global dollar investments return to the US market.
 In response to this, the DXY index rose by 1.35 percent to 104.81 per dollar today. The main reason for the return of dollar investments to the US is that if trump takes office, his policies, decisions, and taxation will not be known. Thus investors have taken this decision to protect their investment. On the other hand, Kamala harris has won more than 200 seats in the last 1 hour of polling and is giving trump a double bite. As a result, the value of the dollar has risen and the value of the rupee has fallen due to many factors including the uncertainty surrounding the US presidential election and the monetary policy announcement of the US Federal Reserve. Indian stock markets continue to register steady trade despite the rupee's depreciation. The Sensex rallied 530 points this morning and is now up 284.75 points to 79,761.38 points. It is noteworthy that the Sensex has been on a downward trend in the last 15 minutes.
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Sowmiya Sriram

06/11/2024 01:38 PM