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Reuters
Indian rupee marks biggest monthly losing streak since 1985
The Indian rupee has declined in each of the ten months this year to notch its biggest losing streak in almost four decades as the U.S. Federal Reserve’s hawkish stance on monetary policy catapulted the dollar to two-decade highs. The Indian rupee fell 1.8% against the dollar in October, taking its slide for the year to nearly 11%. The rupee’s losses have been deeper in the past two months, with market participants reckoning that the Reserve Bank of India let the currency slide after having helped hold it at the 79-80 levels for a long time.
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