Indian Rupee Delivers Record Fall With Virus Concerns

Indian Rupee Delivers Record Fall With Virus Concerns

The Indian rupee fell to a record low. Indonesian rupee also dropped sharply. Increasing concerns that growth will slow down as virus cases are increasingly growing in number and spreading around the world are affecting the decline. The Indian rupee fell to an all-time low with 76.1550 against the dollar, while the Indonesian rupee has dropped to its lowest level since 1998. Indonesian rupee declined on the 9th day after the Minister of Finance announced that there might not be any growth this year. The Yuan fell against the dollar, while the South Korean won neared the 11-year low last week. Thai baht fell on the 8th day after the Central Bank's surprise interest rate cut on Friday. The Malaysian ringgit fell to its lowest level in 3 years with negative expectations for growth. The Philippine peso also fell today.