The Indian rupee has dropped by nearly 4% to a new low of 68.7 to the US dollar amid growing concerns over the health of the country's economy.
受公众对印度国家经济健康日益担忧的影响,印度卢比跌价4%,对美元汇率为68.7,跌至史上最低。
The decline comes a day after India approved
infrastructure1 projects worth $28.4bn to try to revive the economy and
prop2 up its currency.
The rupee has lost 20% of its value this year and is one of the world's worst-performing currencies.
It has also been hit by fears that the US will scale back
stimulus3 measures.
The US central bank has sought to increase
liquidity4 in the US economy, through its policy of
quantitative5 easing, in an attempt to boost growth.
A part of that liquidity has flowed into Asian markets, such as India, and lifted stock and asset prices.
However, the Federal Reserve has said it will scale back the programme if the US economy improves, with some
analysts6 expecting this "
tapering7" to begin as soon as next month.
That has seen
investors8 pull money out of emerging markets, hurting currencies and stocks in those countries.
Stocks markets in India, Thailand, Philippines and Indonesia have seen big declines since May this year. The currencies of these countries have also been highly
volatile9 and weakened significantly against the US dollar.