Indian Rupee drops to lowest value of 2021 against UAE Dirham

Indian Rupee drops to lowest value of 2021 against UAE Dirham

The Indian Rupee on Friday hit an all-time low of 2021, reaching 20.16 against the UAE Dirham in line with selloff in the equity markets amidst rising US Treasury yields and rising oil prices.The rupee dropped from 19.68 to 20.16, losing 2.45% of its value.It was reportedly the biggest drop of the Asian currency since March last year. The rupee is down 1.4% year-to-date against the UAE currency.Comments Read Next3 weeks agoIndian nationals barred from travelling to Saudi, Kuwait via UAE4 weeks agoRegistration for Covishield-AstraZenec vaccination now open4 weeks agoBahrain receives first batch of Covishield – AstraZeneca vaccine from IndiaDecember 24, 2020India's first NBA player banned for two yearsNovember 28, 2020India suffers first recession in decades; GDP slumps 7.5%November 14, 2020India: Man kills his 3 children before ending lifeNovember 6, 2020WhatsApp launches payment service in IndiaOctober 14, 2020Bangladesh set to overtake India in 2020 per capita GDPOctober 10, 2020India: Man arrested for faking death to get insurance moneySeptember 21, 2020India: At least eight dead in Mumbai building collapse