India’s currency is trading at its lowest level in more than three years, but the country’s economy is still struggling to recover from a devastating cyclical recession.
India’s central bank has said that the rupee will remain stable for at least another week, and that its inflation rate is at its slowest in over two decades.
But as the central bank continues to tap into the private sector, its currency has plunged in value.
In the past few weeks, the rupees have weakened to record lows, hitting a low of around 63 to the dollar.
The rupee has also fallen from a peak of $US2.13 to $US1.25.
The fall has left India with a global currency that is now trading at a loss of about $US10 billion.
The global currency markets have been on a roller coaster ride since the Federal Reserve announced in October that it would begin to buy $US3 trillion worth of government debt.
The government of India has responded by selling $US6 trillion worth in government bonds.
But there are signs that things are beginning to pick up, with the central government selling $USD10 billion worth of bonds, a move that has been welcomed by some economists.
The rupee was trading at around 64 to the U.S. dollar at the end of November.
It then traded between 60 and $US50 for a week, but now it is trading around 60 to $30.
India has also seen a spike in foreign exchange trading in recent weeks.
A sharp decline in the value of the ruo on Friday led to a sharp rally on Monday, which led to the ruination of foreign exchange rates across the world.
The U.K.’s pound fell by about 5 per cent in the last 24 hours, triggering a sharp selloff in the currency.
It is currently trading at the lowest level since June of this year.
The pound has now lost more than 10 per cent of its value against the dollar since the Brexit vote.
It has also lost almost 10 per of its last 25 per cent.
The pound has also been losing against the yen, as well as other currencies.
In a move reminiscent of a major global stock market crash in 2008, the pound plunged more than 20 per cent on Friday, prompting the pound to decline more than 6 per cent against the U and the dollar on Monday.
The dollar was trading around 64.90 to the greenback at 11:30 a.m.
(AEDT) on Monday afternoon, its lowest since mid-November, according to data from the World Bank.
It traded at 66.80 to the yen at 11 a.me. (NZD).