Indian rupee leads Asian currencies’ decline ...News

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Indian rupee leads Asian currencies’ decline
source : Russia Today ( News ) () 27
The drop against the US dollar comes after Fed Chair Jerome Powell struck a hawkish tone on fighting inflation in a key speech on Friday India’s currency, the rupee, slumped to a record low on Monday after Federal Reserve Chair Jerome Powell articulated a firm commitment to battling inflation in a speech at an annual central bankers’ conference.  The currency fell to new low of 80.11 against the US dollar, compared to Friday’s close of 79.87.   Powell’s speech on Friday in Jackson Hole signaled that the Fed’s restrictive policy would be kept for longer in order to bring down the raging inflation. He added that red

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