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CURRENCIES - The Indian rupee is close to its all-time low against the euro

16/11/2020
Source : Option Finance
Categories: Index/Markets

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The Indian rupee fell by 0.42% against the euro last week, with the euro trading for 88,2301 rupees on Friday evening. It is thus approaching its historic low against the single currency reached last August, at 89.0955 rupees per euro, due to the scale of the Covid-19 epidemic and despite the interventions of the Reserve Bank of India. However, Nomura Bank believes, the rupee should return to its pre-pandemic level by next March, thanks to a large current-account surplus and less central bank intervention.

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