Currency Rupee under scanner amid poor macros and trade war uncertainties Updated : November 14, 2019 10:35 AM IST On the domestic front, the negative effect on the rupee started when Moody's cut India's outlook to 'negative from 'stable', this acted as a first trigger point for the rupee to depreciate. The anticipation of macro data points was already expected to be weak starting from IIP data, which came in at an eight-year low. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.