MC:Rupee remains one of the worst performers in past 3 months
Mecklai Graph of the Day - Rupee continues to underperform
From the below graph it can be noted that Rupee has remained one of the worst performers against USD in past three months. Foreign investors have been pulling out funds from the market taking Sensex below 16000 levels and Nifty on the verge of testing its recent low of 4740. Poor economic data and high inflation have added further insult to injury, supported by Euro zone debt crisis. Rupee is bound to touch its recent low of 52.18 (Onshore) and if the current situations prevail, then further weakness can be expected.
The below graph represents movement in Asian Currencies against US Dollar from August 2011- till date.
