After the dragon, dollar causes rupee fall

The injured Chinese dragon has hurt world economy. India lost heavily. The US and Iranian nuclear deal is now acting as a negative factor for the Asian currencies. Dalal Street stocks fell by 400 points on Wednesday morning. NIFTY too fell by 140 points. Rupee that was making a slight recovery is also on the falling side and is trading 68 to the dollar. This was the exchange rate in 2013 also. The rupee's further fall was prevented by US dollar's weakness against some currencies. Indian rupee is linked to a basket of currencies. Rupee is likely to trade negative as the US and Iran have agreed on the latter scaling down its nuclear programme. This has kept all Asian countries pressurised and will act as a negative factor for the rupee.