India’s investment climate uncertain - rupee worst performer
The rupee has declined 5.3% against the dollar this year and has underperformed against almost all others. Only those of Argentina, Brazil, Russia and Turkey have done worse. Most currencies have fallen against the dollar since the start of the year over a strong U.S. economy and rising U.S. Treasury yields.
The Indian currency is now trading close to its low of 68.90 rupees to the dollar hit in February 2016, and some economists see it sliding to 70 this year. Late Wednesday in New York, the dollar bought 67.43 rupees. more