The Indian Rupee has been termed as the worst-performing Asian currency By Heena Naik, Angel Broking
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Below are Views On The Indian Rupee has been termed as the worst-performing Asian currency By Heena Naik, Research Analyst - Currency, Angel Broking Ltd
* The Indian Rupee has been termed as the worst-performing Asian currency this month as it weakened towards the lower levels of 75.54.
* Primary reason for the downfall of Rupee could be attributed to RBI's announcement of a formal bond purchase plan in the recent policy. They also hinted towards the uncertainty over India’s growth outlook.
* Also, economists have cut their forecast for the current quarter growth amid restrictions to contain the coronavirus which has created worries in the minds of investors.
* All the above factors are expected to keep the rupee under pressure for some more time unless and until the RBI decides to step in.
* In the future, a supportive policy mix along with government measures and robust vaccination drive could help in the country's recovery.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
