The rupee depreciated by 9 paise and settled at its all-time low level of 83.13 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
Zhang Wenhong, who heads the Covid-19 clinical expert team in Shanghai and leads the infectious disease department at one of the eastern metropolitan city's top hospitals, expects that in the long term, countries will have to take a flexible approach to recurring outbreaks.
The upcoming general elections will be the focus and the economy and market performance will pivot around that event. The general consensus is that the India stock market should be up around 10 per cent by the end of the year.
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