Why is it so rupee is so weak against doller while Nifty’s 2 days chart is showing something else.
According to historical data rupee always appreciated or depreciated by the movement of Nifty. As nifty shows national consumption of INDIA..
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Since people are felling that a recession is at the bay and it might come anytime soon. So people are withdrawing money from india and moving to safe heavens like USD. Another reason to shift to USD is that USA has hiked interest rate making better investment opportunity to invest in USD.