GUWAHATI, Nov 6: The Indian rupee hit an all-time low of 84.27 (till the filing of this report) against the US dollar as Donald Trump took an early lead over Kamala Harris and is now poised to become the 47th President of the United States.
The Indian currency had on Tuesday (Nov 5) hit it’s earlier lowest exchange rate of 84.13 against the US Dollar before recovering slightly.
Reports said investors are anticipating that Trump’s policies, known for prioritizing domestic infrastructure, would push fiscal limits and increase borrowing needs. This scenario has already triggered a rise in the dollar to levels last seen in July, reported news agency ANI.
Market experts said the dollar’s rally stems from expectations that a Trump presidency would significantly increase government spending, likely aimed at stimulating the economy, ANI further stated in its report.
