Indian rupee ends up on a record level amid American fears

The Indian Rupee has dropped on a new record against the dollar, amid fear that 50% US customs duties will weaken economic growth and the profits of companies in the country. The Indian currency dropped 0.6% to score 88.1712 rupees for the dollar, with the lowest historical level at 87.9563, which he touched last February. The worst currency call is the worst achievement in Asia this year, which is influenced by the continuous foreign flow of local equities. The currency is facing extra pressure as new US drawings enter this week, targeting industries on export -based industries such as materials, shoes and jewelery. Also read: The double US drawings on India are implementing the impact of the fees on the growth of India’s economy. The “City Group” group has estimated that these fees are reducing the annual growth rate of India by 0.6 and 0.8 percentage points. Removal of US drawings could pose a new threat to the fragile economic recovery in India, while the weakness of rupees exacerbated the risk of imported inflation. Global funds have withdrawn more than $ 13 billion from local shares this year with poor profits of companies, while three consecutive discounts for interest by the Indian Reserve Bank have weakened the support granted to the currency. “The most important point is that the rupee will remain weak as long as customs duties continue, and it is likely that the Indian Reserve Bank is still actively entering current levels.” Recognition more: The Indian Central: The economy will grow 6.5% despite the increase in global turmoil. On Friday, Fridays released that the gross domestic product ended during the quarter in June expanded by 6.7%, but this rate could be supported by accelerating export delusions after President Donald Trump temporarily suspended the application of mutual customs duties. Indian Reserve Bank Governor Sanjay Malhotra told reporters earlier this month after keeping interest rates unchanged that the currency will see fluctuations due to the increase in uncertainty over the fees. He added that the rupee fluctuations remain less compared to some currencies in other countries such as the United States.