Rupee Becomes Asia's Second Worst-Performing Currency

The Indian rupee fell by 12 paise on November 27, 2024, ending the day at 84.45 against the US dollar. Over the past six months, it has depreciated by 1.6%, making it the second worst-performing currency in Asia after the South Korean Won, which dropped by 2.1%. This decline continues from 2023, where the rupee lost 0.6%. The rupee's weakness is linked to factors like a stronger US dollar, increasing tensions between Russia and Ukraine, and foreign investors pulling out $1.5 billion from Indian stocks in November.

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