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Wednesday, August 28, 2013

The Rupee Just Had Its Worst Day In 18 Years

CHART OF THE DAY: We May Be Witnessing The Beginning Of A Rare Global Economic Phenomenon

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Wednesday, Aug 28, 2013
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The Rupee Just Had Its Worst Day In 18 Years

The Indian rupee is getting blowtorched again, slumping 3.7% to a record low of 68.84 to the dollar.

The currency has been tanking lately. On Tuesday, it posted its biggest daily percentage fall in 18 years.

Check out the chart of the rupee against the US dollar (via Bloomberg):

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