martes, 3 de septiembre de 2019

Explained: What is behind the continuing slide of the rupee, crash of the Sensex | Explained News, The Indian Express

Reported by Sandeep Singh |Edited by Explained Desk |New Delhi |Updated: September 3, 2019 4:34:22 pm

Explained: What is behind the continuing slide of the rupee, crash of the Sensex

While China witnessed a decline in its currency by around 0.6 per cent, the Indian currency that opened on Tuesday after three days, witnessed a sharp decline of 90 paise or 1.2 per cent.

Explained: The continuing slide of the rupee, the crash of the Sensex — Since July 31, the rupee has lost around 5 per cent from 68.86 against the dollar to trade at 72.3 on Tuesday. (Representational Image)

The finance minister’s announcement on Friday to merge six relatively small banks into four bigger banks failed to lift market sentiment as the Sensex at the Bombay Stock Exchange fell over 500 points and the rupee lost up to 90 paise against the dollar to trade at a near 10-month low of 72.31 following concerns over the tariff war between the US and China, and a weak GDP growth in India of 5 per cent in the first quarter ended June 2019.