
Rupee surges: It hits 84/$, wiping off all of the losses following Trump’s election victory.
The rupee is doing well. The currency has broken over the psychologically significant 84/$ levels and is up almost 1% daily. These levels were last observed in June 2024. With Donald Trump’s victory in the November 2024 US presidential election, the currency has now erased all losses. Strong dollar inflows and short-covering are being cited…