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Royal Bank of Canada says rupee plunge due to emerging markets stress

Updated : September 06, 2018 18:10:48 IST

Royal Bank of Canada on Thursday said rupee plunge due to emerging markets pressure.

In an interview to CNBC-TV18, Adam Cole, director and global head of FX strategy, said, "It's not just in 2018 that we have seen emerging markets and  Asian currencies trading in negative. But it’s something we have seen running through market for much longer than that."

Cole said, "It’s a thing we will continue to see as we move towards policy normalidation in the rest of the world."

According to Cole, market will continue to focus on currencies required large external capital inflows versus those seen capital outflows.
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