The rupee touched a low of 66.48 against the dollar on April 23, a decline of 4.41 per cent since the start of the year. The rupee's depreciation affects household budgets in several ways.
One way they can counter this is by investing a part of their portfolio in foreign assets. The rupee's depreciation is part of a global phenomenon. "The dollar index has strengthened in the past few weeks and that has affected emerging market currencies," says Nikhil Gupta, chief economist, Motilal Oswal Securities. Several factors have led to the strengthening of the greenback. ...
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First Published: Wed, April 25 2018. 15:19 IST
