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I had only Indian currency.
The Indian currency hit a fresh two-year low of 48.24 against the dollar on Tuesday afternoon, a level last seen on September 25 , 2009
The Indian currency has lost more than 16 percent of its value over the past year, the most among Asian currencies.
"The Indian currency will be the first casualty of a deterioration in the euro zone crisis," said Rupa Rege Nitsure, chief economist at Bank of Baroda in Mumbai.
His experience there formed the basis of his first major work, Indian Currency and Finance (1913), a definitive examination of pre-World War I Indian finance and currency.
On Wednesday, the Indian currency was hovering above the 67-rupee mark against the U.S. dollar, having hit a record low of 68.85 the week before.
Similar(34)
But so too have the Indonesian and Indian currencies, and those of Thailand and Malaysia.
While that imbalance has now corrected itself, we continue to see instability in Brazil, Egypt, Turkey and South Africa, and severe corrections in Latin American and Indian currencies.
Unocoin raised $1.5 million USD, a record for an Indian digital currency outfit, and is paving the way for domestic and international investors to support Indian Bitcoin companies.
The situation is alarmingly critical as we are not only losing valuable coking coal reserves to non-metallurgical sectors, it's costing Indian foreign currency reserves to the tune of US $5.2 billion in import of coking coal (Ministry of Coal 2014; CIL 2015).
The accumulating signs of economic distress — slower growth, a widening current-account deficit, higher oil prices and rising inflation in general — suggest that the monthlong fall of the Indian rupee in currency markets may be a symptom of fundamental troubles in the Indian economy and not just part of the broader difficulties experienced by Asian emerging market currencies in recent weeks.
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