Rupee performance: What led to rupee becoming Asia’s worst performing currency in May?
After appreciating towards 83.94/$1 levels in April, the combined impact of tariff uncertainties, border tensions and expectations of further monetary easing by the central bank made the rupee the worst performing currency in Asia in May. The rupee weakened 1.27% in May, from 84.48/$1 at the beginning of the month to 85.57/$1 as of May 30, and retreated the most in Asia. Agencies“There have been unwinding of long rupee positions amid tariff uncertainties while importers are taking advantage of lower forward premiums,” said Kunal Sodhani, head of treasury at Shinhan...