The Indian rupee sunk to a two year low yesterday amid fears that the country’s emerging market assets would be negatively affected should the talk of a US interest rate hike come to fruition. Shares in India dropped 1.2% to their lowest in 15 months, as data confirmed on Friday that the jobless rate in the US had fallen to a seven year low. The fact that more people are in work strengthens the Federal Reserve’s case to increase borrowing rates.
It is expected that the rupee will continue to be volatility until the Federal Reserve makes a final decision on rates.
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