New Delhi: The Indian currency is witnessing a steady fall in the rupee. According to a Bloomberg report, the Indian rupee has become the worst-performing currency in the Asian market. The main reason behind this is the selling of foreign investors. Simply arranged, foreign investors are withdrawing their money from the country's stock market.
A Bloomberg report says the Indian rupee has lost 1.9 per cent in the October-December quarter against the US dollar. It has now come down to Rs 76 per dollar against Rs 74 per dollar. According to the report, the international fund has withdrawn USD 420 million (approximately Rs 31,920 crores) from the Indian stock market. This is the highest capital withdrawn from any stock market in Asia.
The Indian stock market is under constant pressure due to the new variant Omicron of the Coronavirus. Investors' concerns have increased. At the same time, India's trade is showing record losses. The U.S. Central Bank is amending its policy by the Federal Reserve as well as central banks around the world. The world's central bank is in the process of raising interest rates to control inflation.