look news india
Dollar vs Rupee: Donald Trump's victory in the presidential elections in America has proved harmful for the currencies of other countries including India. With the news of Trump's victory, the rupee fell by 15 paise to its lowest level of 84.25 against the dollar.
Dollar index at four-month high
The dollar index rose 1.9 percent to a four-month high of 105.30 on Wednesday on signs that Donald Trump's victory and his inflationary policies will boost the dollar. Other Asian and European currencies weakened as a result. The dollar index has been under pressure for some time due to election uncertainties. US 10-year yields also rose 17 basis points to 4.44 percent. Due to which the pressure on the rupee will increase.
Fed will cut interest rates this week
The US Fed may announce a rate cut by the end of this week. Economists expect the US Fed to cut interest rates by 100 basis points by 2025.
Iran's currency has also reached its lowest level
With the victory of aggressive Donald Trump, Iran's currency has also fallen to a lower level against the dollar. The Iranian rial has hit a historic low of 703,000 against the dollar. Trump's victory in the US, which is seen as pro-Israel, has sent the currencies tumbling on fears of an adverse impact on Iran. Among other Asian currencies, Japan's Yen has fallen by 1.54 per cent, Singapore Dollar by 1.19 per cent, Thailand's Thai Baht by 1.64 per cent and China's Yuan by 0.74 per cent against the Dollar.