- Wealth PMS
The Indian rupee has started sliding again, going up to nearly Rs. 53 a dollar (RBI Reference rate).
This is the highest the dollar has been since 4 Jan, and it looks like we’ll go break the 2012 high (of Rs. 53.30) very soon.
Longer term, we are close to 11 year highs.
This is bad for:
Good for exporters, but you can bet that their customers will tell them to cut prices because of the rupee depreciation. Not fun either.