InvestorQ : Why did the rupee correct so sharply on Monday?
Rashi Mehra made post

Why did the rupee correct so sharply on Monday?

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Archita Jajjoo answered.
1 month ago
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On Monday, the rupee fell by almost 53 paisa from Rs81.35/$ to Rs81.88/$. It has been trading pretty close to the 82/$ mark and is now expected to breach that barrier and weaken further. On Monday, the trigger for the sharp fall in the rupee came after OPEC and Russia decided to cut crude supply by 1 million bpd. However, the bigger concern is that India may not be included in the global bond indices in 2022. That is likely to result in unwinding of the opportunistic flows that came into India on inclusion expectations.

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