Current Affairs

Biggest Fall of Rupees in 6 years

Current context: The biggest single-day fall of rupee has been recorded for the first time breaching the 70 level mark of Indian rupees since August 2013.
Biggest Fall of Rupees in 6 years
  • The reasons for the downfall of the rupee is said to be the souring US-China trade relations resulting in Yuan’s slide to record low as well as the Indian government’s move to end Jammu and Kashmir’s special status.
  • A free fall has been seen in the global currency markets after China’s central bank agreed on the Yuan to slide to a record low against the dollar.
  • The rupee lost close at 70.74 to a dollar which is 1.63%, the weakest since March 2019.
  • Bloomberg volatility shows the one-month surge to 6.79% versus 5.03% last week.
  • Gold prices also hit 6 years high in global markets and Indian stocks markets fell sharply resulting selloff in other Asian markets.

Question: 

Q.1 The biggest fall of rupee against the dollar in the last six years, was recently in news at?
a. Crossing 70 level mark
b. Crossing 80 level mark
c. Crossing 75 level mark
d. Crossing 68 level mark
Biggest Fall of Rupees in 6 years Biggest Fall of Rupees in 6 years Reviewed by Neha on August 06, 2019 Rating: 5

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