Indian rupee extends its decline, slumping to fresh record lows this week
The Indian rupee has slumped to fresh record lows this week, falling past 91 against the US dollar on Tuesday. Prolonged trade deal negotiations between New Delhi and Washington is weighing on sentiment. The rupee is Asia's worst performer this year, down more than 6%. While a cheaper rupee makes India's exports more attractive, businesses and consumers have to contend with weaker purchasing power. Rebecca Bundhun reports.
The Indian rupee has slumped to fresh record lows this week, falling past 91 against the US dollar on Tuesday. Prolonged trade deal negotiations between New Delhi and Washington is weighing on sentiment. The rupee is Asia's worst performer this year, down more than 6%. While a cheaper rupee makes India's exports more attractive, businesses and consumers have to contend with weaker purchasing power. Rebecca Bundhun reports.
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