Home Business Depreciation in rupee due to dollar strengthening rather than inherent weakness: HSBC

Depreciation in rupee due to dollar strengthening rather than inherent weakness: HSBC

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(G.N.S) Dt. 19 New Delhi While the rupee is Asia’s worst performing currency so far this year, the depreciation is largely owing to the dollar strengthening rather than any inherent weakness in the domestic unit, a senior official at HSBC Global Asset Management said. The rupee ended below the 70-mark against the US dollar for the first time ever on August 16 on strong demand for the greenback amid the

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